Renewable Energy Target€¦ · Large-scale Renewable Energy Target (LRET) A power station may be eligible for accreditation under the Large-scale Renewable Energy Target if it meets

Renewable Energy Target Introduction to the Large-scale Renewable Energy Target

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Who administers the Renewable Energy Target?

The Renewable Energy Target is one of the schemes administered by the Clean Energy Regulator.

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What is the Renewable Energy Target? The target is designed to:

• reduce emissions of greenhouse gases in the electricity sector and

• encourage the additional generation of electricity from sustainable and renewable sources.

Large-scale power stations and the owners of small-scale systems are able to create certificates for every megawatt hour of power they generate.

Certificates are purchased by electricity retailers who sell the electricity to householders and businesses.

This creates a market which provides financial incentives to both large-scale renewable energy power stations and the owners of small-scale renewable energy systems.

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Renewable Energy Target

• driven by supply

• encourages small-scale renewable energy system installations

• uncapped

• Certificate entitlement deemed and provided up front

• does not contribute to the 2020 target

• certificate price capped at $40 (clearing house)

Small-scale Large-scale

• driven by demand

• encourages new investment in large-scale renewable energy

• 33 million megawatt hours of additional renewable electricity from renewable sources by 2020

• certificate entitlement based on electricity generation

• market sets the price of certificates (no price cap and no clearing house)


Spot prices – what's been happening?


Do the numbers stack up? Pie factory A

• Uses 200 MWh/yr

• Purchases 10% green power

• Pays for:

• Electricity used (approx $30,000)

• STP (approx $1,000)

• RPP (approx $2500)

• Green power (approx $2,000)

• Total: approx $35,500

Pie factory B

• Uses 200 MWH/yr

• Installs solar PV generating 100MWh/yr

• Purchases 10% green power

• Generates 100 LGCs/yr

• Pays for:

• Electricity used (approx $15,000)

• STP (approx $500)

• RPP (approx $1250)

• Green Power (approx $500)

• Generates revenue from 100 LGCs (approx $8000)

• Total: approx $9,250

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The opportunity in the LRET


Participation: Large-scale Renewable Energy Target


Large-scale Renewable Energy Target (LRET)

A power station may be eligible for accreditation under the Large-scale Renewable Energy Target if it meets all the eligibility requirements outlined in the Renewable Energy (Electricity) Act 2000, including:

• some, or all of the electricity generated by the power station is from an eligible energy source, and

• it complies with all Commonwealth, state, territory and local government planning and approval laws.

Owners of a power station:

• 10 kilowatts up to 100 kilowatts may choose to participate in the LRET or the SRES

• 100 kilowatts or greater can participate in the LRET

Who can participate?


http://www.cleanenergyregulator.gov.au/RET/Pages/About the Renewable Energy Target/How the scheme works/Large-scale-Renewable-Energy-Target.aspx

Fuel sources under the LRET

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Wind Sun Water

See section 17 of the Renewable Energy (Electricity) Act 2000 for a complete list of eligible renewable energy sources.

Waste

hydro wave tide

Land

bagasse energy crops geo-thermal

food waste landfill gas

biomass

solar PV wind turbines

Eligible renewable energy sources include, but are not limited to the following;

To participate under the Large-scale Renewable Energy Target, power stations must generate

electricity from eligible renewable energy sources.

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Individuals or businesses seeking accreditation will first need a REC Registry account.

Create a 'nominated person' who will be the sole account holder within the organisation.

The nominated person is responsible for all contact with the Clean Energy Regulator.

How to apply



The nominated person for the power station will need to apply for account upgrade once the registered person application has been approved.

How to apply



Submit your application form in the REC Registry. Applications for accreditation can be made up to 10 weeks prior to commissioning and first generation.

Accreditation applies from the date of generation OR the date in which your application is properly made.

You will need to provide information relating to power station details, renewable energy sources, metering details, LGC methodology, approval and generation details.

How to apply


Hints and tips

• Be clear about your power station components

• Ensure that the power station components and the single line diagram are consistent

• Generation must be measured:

• Meter – be clear about the meter type, accuracy, and location of the meter on the single line diagram

• Inverter – must apply a % confidence factor to LGC methodology

• Spatial data


LGC calculation

LGCs = TLEG – (FSL + AUX + (DLEG x (1 – MLF)))

where:

TLEG = the amount of electricity generated by the power station

AUX = Auxiliary loss

FSL = 0. The only fuel is solar.

MLF = 1. All electricity is used onsite or sent within the local distribution network.

% confidence factor = 100 – (0.5 x (required accuracy – accuracy of inverter))

Therefore LGCs = Generation– Auxiliary loss x % confidence factor


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Once the Clean Energy Regulator has the information required for decision making the fee will be set in the REC registry.

The fee depends on the capacity for the power station. For commercial and industrial solar the fee is $50.

Accreditation fees are detailed in the Renewable Energy (Electricity) Regulations 2001.

How to apply



The Clean Energy Regulator will undertake assessments of applications to ensure compliance with section 14 of the Renewable Energy (Electricity) Act 2000.

How to apply



The Clean Energy Regulator will advise you of the outcome of the application process.

At the time of accreditation the Clean Energy Regulator will provide the accreditation code for the power station.

This accreditation code is used when creating LGCs in the REC registry.

How to apply


Questions? [email protected] 1300 553 542 www.cleanenergyregulator.gov.au

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Renewable Energy Target€¦ · Large-scale Renewable Energy Target (LRET) A power station may be eligible for accreditation under the Large-scale Renewable Energy Target if it meets

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