Photon Energy takes care of the process of accreditation, creation and selling of Renewable Energy Certificates (REC) of both Small-Scale Technical Certificates (STC) and Large-Scale Generation Certificates (LGC).
Renewable Energy Certificates (REC) are the most important and most accessible incentive available in Australia to encourage investment in renewable energy systems and provide a significant improvement in the returns to system owners.
- Registration of solar power stations
- Energy production reporting
- Certificate creation and management
- Trading of certificates
What are Renewable Energy Certificates?
The Renewable Energy Target is an Australian Government scheme designed to reduce emissions of greenhouse gases in the electricity sector and encourage the additional generation of electricity from sustainable and renewable sources.
The Renewable Energy Target works by allowing both large-scale power stations (over 100 kW) and the owners of small-scale systems (under 100 kW) to create certificates for every megawatt hour of power they generate. Certificates are then purchased by electricity retailers who sell the electricity to householders and businesses. These electricity retailers also have legal obligations under the Renewable Energy Target to surrender certificates to the Clean Energy Regulator, in percentages set by regulation each year. This creates a market which provides financial incentives to both large-scale renewable energy power stations and the owners of small-scale renewable energy systems.
In the case of small-scale systems all certificates are provided ‘up front’ for the systems’ expected power generation or displacement over a 15 year period. Generally, customers assign the right to create their certificates to an agent in return for a lower purchase price. The level of this benefit differs across the country depending on the level of solar radiation.
For more information please refer to http://www.cleanenergyregulator.gov.au/RET/About-the-Renewable-Energy-Target