General FAQs

1. Can I get any other rebates or grants for my solar hot water or PV system?
2. What’s an ‘independent agent’?
3. What should I look for in a REC agent?
4. How will I get paid?
5. What do you do with my RECs and VEECs?
6. How does Green Energy Trading make their money?
7. Are RECs and VEECs really just a government rebate?
8. Are RECs and VEECs part of the Carbon Pollution Reduction Scheme (CPRS)?
9. Who can create RECs and VEECs? Can I do this?
10. Why is my assignment form under audit?
11. Is GST included in the certificate price?
12. What is required as proof of installation?

1. Can I get any other rebates or grants for my solar hot water or PV system?

For information on other rebates and grants visit: www.environment.gov.au/rebates

2. What’s an ‘independent agent’?

Agents can be affiliated with a particular brand. An independent agent has no such affiliation and can create your RECs and other certificates from any approved system.

3. What should I look for in a REC agent?

REC agents should be independent of any manufacturer and provide you with a one-stop-shop for all of your systems. They should be able to demonstrate experience in the sector so that you can be assured you’re partnering with someone who can manage risk.

They should also be able to provide you with the confidence that they actively monitor the market, this ensures that you receive the best price and service available and can give you a competitive advantage over your competition. Your REC agent should provide complimentary market analysis.

4. How will I get paid?

We pay directly into your bank account. We can also pay by cheque if requested but this will take longer.

5. What do you do with my RECs and VEECs?

Once Green Energy Trading has received the right to create RECs and VEECs on your behalf (i.e. you’ve sent in your correct and complete paperwork), we check all the details and then lodge them with the regulator. The regulator ultimately creates the certificates. Once this has been done, they notify us. We create large parcels of certificates (at least 5,000) and sell them on the open market. REC and VEEC buyers are typically electricity retailers who must purchase and then surrender a set number of certificates every year to meet their mandatory target (see ‘What is the Renewable Energy Target? ’ and ‘What is the VEEC scheme?’ below for more information).

6. How does Green Energy Trading make their money?

Green Energy Trading pays you our quoted buy back price. There are no fees or charges deducted for administration or handling. The buyback price is set at a level where we can recover costs and make a commercial return for the exposure to market risks.

7. Are RECs and VEECs really just a government rebate?

No, but they do have a monetary value. For information on government rebates visit www.environment.gov.au/rebates

8. Are RECs and VEECs part of the Carbon Pollution Reduction Scheme (CPRS)?

No, they work outside the CPRS. Each of these schemes are aimed at reducing Australia’s greenhouse gas emissions. You can’t use RECs or VEECs to meet CPRS obligations.

9. Who can create RECs and VEECs? Can I do this?

You must be registered with the Office of the Renewable Energy Regulator to create RECs and the Essential Services Commission to create VEECs. Agents such as Green Energy Trading buy the rights to create RECs and VEECs on behalf of system owners. Often an owner will assign their right to create these certificates at the time they buy the system in exchange for a discount. Alternately, system owners can deal directly with Green Energy Trading.

10. Why is my assignment form under audit?

• An incorrect serial number has been supplied
• Another person or agent has already submitted the same serial number
• RECs have already been created at that address

If your system comes under audit you’ll need to supply photos as evidence. We advise our clients always take photos at the time of installation, it can save considerable time and money later. For more information regarding audits click here.

11. Is GST included in the certificate price?

No. GST can be added on top of the weekly price e.g. if Green Energy Trading are purchasing RECs for $35 and the assignment form is for 18 RECs you invoice 18 RECs x $35 = $630 + 10% = $693.00.

If you are a business claiming certificates for an installation on a commercial property you must invoice Green Energy Trading for the weekly value of the certificates plus GST. For more information on whether you are required to charge GST click here .

12. What is required as proof of installation?

This can be either the invoice to the customer for supply and installation or the certificate of compliance/electrical safety. The key details here are the customer’s name, system details, accurate installation date and address where the system was installed. The invoice should also indicate if a point of sale discount was given.