The Trend in Solar Water Heater RECs
03 Sep 2009
RECs from solar water heaters have accounted for more than 50% of all RECs produced so far for 2009. We’ve seen strong month-on-month growth in the number of SWH installations this year, due largely to generous rebates from Commonwealth and State Governments in addition to benefits provided by RECs.
The strong growth in SWH sales and consequently the large volumes of RECs created has been one of the principle drivers behind the 25% reduction in REC prices over the last few months.
It looks as if monthly SWH REC creation has now peaked, with over 1 million for July 2009, this has mirrored stories of strong sales growth we’ve heard from our clients. However the REC numbers for August have fallen considerably to about 700,000, again reflecting stories from the market. As the net price of SWH systems has risen (due to less benefit from the lower price of RECs) then the level of interest and enquiries has fallen. Watch this space for more updates or call us if you’d like detailed analysis.