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Rebate Advice
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The Australian Government is supporting the deployment of renewable energy in Australia's electricity supply through the Renewable Energy Target (RET) scheme. The RET scheme guarantees a market for additional renewable energy generation using a mechanism of tradeable Renewable Energy Certificates known as RECs. The Australian Government has set a target to achieve a 20 per cent share of renewable energy in Australia's electricity mix by 2020. Find out about Feed in Tariffs » RECsInitiated by the Renewable Energy (Electricity) Act 2000; RECs, otherwise known as Renewable Energy Certificates, are available when you buy a solar power system. You can receive cash back on your purchases by selling the RECs or use them as a point of sale discount from Aussie Solar. One REC is equivalent to one megawatt hour of electricity generated by your solar power system. A renewable energy certificate can be traded for cash and the value of these certificates fluctuates according to market conditions. Owners of systems can claim RECs themselves by completing the appropriate application forms. However, this can be confusing and time consuming, so most people choose assigning their right to claim RECs to an agent, such as Aussie Solar; which is a very simple process. By taking advantage of Renewable Energy Certificates, a substantial amount of money can be saved when you buy a solar power system! Australia is divided up into various zones based on how much renewable energy can be generated by a solar panel in a given area. The table below shows the level of financial support available from RECs on solar power systems in the major capital cities of Australia. Renewable Energy Certificates - Level of financial support
Zone Rating x Rated Power Output (1.5kW) x Deeming Period (15 years) = Total REC Entitlement Figures based on a $32 market rate for RECs. Price subject to change in market value. RECs and Solar CreditsThe Solar Credits program is based on the Renewable Energy Certificate system, but with a certificate multiplier incentive offering up to 3 x the usual number of RECs issued for solar power systems up to 1.5kW. The table below shows the level of financial support available from Solar Credits on solar power systems in the major capital cities of Australia: 1.5 kW system under the Solar Credit Scheme
Figures based on a $32 market rate for RECs. Price subject to change in market value. The Government has set the level of the Solar Credits multiplier as stated in the table below. Multiplier for certificates for small generation units
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