Renewable Energy Target regulations are now in place

09 Sep 2009

The regulations to give effect to Solar Credits (REC multiplier) and to tighten the requirements for commercial solar water heater systems are now in place. In brief, this includes the following:

• Rounding of RECs will be at the end – after the 5 times multiplier has been applied (you can use our calculator for this)
• If the customer has received an approval or pre-approval for Commonwealth government rebates under the Solar Homes and Communities Plan (SHCP), National Solar Schools Program (NSSP) or Renewable Remote Power Generation Program (RRPGP) then they will not be eligible for the REC multiplier.
• Only eligible premises will be able to access the REC multiplier. This will include homes, apartments, units, shops, community facilities etc. – but will be unlikely to include things such as mobile homes, street lighting etc. (the ORER will develop more detailed guidelines over the coming months).
• To create RECs for commercial heat pumps (systems over 700L) will now require 2  statutory declarations:

1. from the customer stating that they will not relocate the system; and
2. from the installer or other suitably qualified person that will able to confirm that the system is appropriate for the customer's use.

Green Energy Trading clients should now have received a full briefing paper on what this means and how you can create Solar Credits. If you’re a client and haven’t received this please contact us.