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Federal Incentives – Renewable Energy Certificates
Renewable Energy Certificates (RECs) are an electronic form of currency given to consumers as a reward for generating certain forms of clean renewable energy. It's useful to think of RECs as a commodity like shares. Their value may increase or decrease over time.
Under the Mandatory Renewable Energy Target (MRET) scheme the following types of Small Generation Units (SGUs) are eligible to create RECs:
- small solar (photovoltaic) systems
- small solar (hot water) systems
- small wind turbines
- small hydro systems.
Choose an upfront discount with your RECs
Most people choose to receive a benefit from RECs at the time they have their system installed. This is usually in the form of an upfront discount on the full purchase price of the system from a Registered Agent (such as Solar Professionals). Ownership of the RECs is transferred to this Agent.
OR
Create and trade RECs yourself
If you want to create and trade RECs yourself you must become a Registered Person under the MRET scheme. To do this you'll need to create an account in the Internet-based REC Registry and send a completed form to the Office of the Renewable Energy Regulator (ORER). If you decide to sell your RECs, you must find a buyer and negotiate the price and other terms of sale. Note that the ORER doesn't monitor the price of RECs and it doesn't get involved in disputes between buyers and sellers.
Want to know more?
Visit https://www.rec-registry.gov.au/sguCalculatorInit.shtml
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