Government Renewable Energy Schemes
Renewable Power Incentives
Renewable energy provides reliable power supplies and fuel diversification, which enhance energy security, lower risk of fuel spills, and reduce the need for imported fuels. Renewable energy also aids conserve the nation's natural resources.
Small-scale Renewable Energy Schemes
The Small-scale Renewable Energy Scheme creates a financial incentive for individuals and small businesses to install eligible small-scale renewable energy systems such as solar panel systems, small-scale wind systems, small-scale hydro systems, solar water heaters and air source heat pumps.
Small Technology Certificates (STC's)
- Each individual meter/bill attract STC’s
- Solar Systems up to 100kW (99.99kW ) Qualify for STC’s.
- The Small-scale Renewable Energy Scheme creates a financial incentive for individuals and small businesses to install eligible small-scale renewable energy systems such as solar panel systems.
- This incentive which can be applied as an upfront discount by the Solar provider, allows you to enter the renewable market with a far speedier return on investment.
- Small-scale technology certificates can be created following the installation of an eligible system and are calculated based on the amount of electricity a system produces or replaces (that is, electricity from non-renewable sources).
- The certificate values change as they operate in an open market, however SolarXpress will advise current value when providing a quote and will honour this value during the decision- making process.
- At current market value a 100kW system would attract STC’s value of around $55000.00 Inc Gst, this is based on a Brisbane installion and current market value.
- The incentive scheme is also postcode driven and the various amounts are included on the following pages.
Large-scale Renewable Energy Schemes
The Large-scale Renewable Energy Target (LRET) incentivises investment in renewable energy power stations, such as wind and solar farms, or hydro-electric power stations, by legislating demand for large-scale generation certificates (LGCs).
Large Generation Certificates (LGC's)
- Solar Systems above 100kW
- The LGC’s creates a financial incentive for large scale renewable energy installations such as Solar PV Systems, above 100kW. After the system has undergone an accreditation process the owners can generate Large-Scale Generation Certificates (LGCs). Receive a payment for power generation.
- One LGC can be created for every megawatt-hour of electricity generated. Like STCs, LGCs can be purchased, sold and traded on an open market with their value fluctuating according to supply and demand.
- The key difference between STCs and LGCs is that LGCs are produced on an on-going basis (once the system has been installed, is producing electricity, and has undergone the accreditation process) as opposed to STCs which are created upfront.
- For example, a 200kW system would produce an average solar output of 306,000kWh per annum, or 306 MWh. This means they would produce 306 LGCS.
- LGCs currently trade for around $38.00, which means at the current value, a 200kW system would receive around 306 x $39.00 = $11,628.00 per year in government incentives. These are available until 2030 (10 years) LGC’s can be claimed monthly in arrears