The Federal Government Renewable Energy Target (RET) is driving renewable energy by providing financial incentives to make installation more affordable and attractive.

The RET is split into two targets the Large-scale RET (LRET) for larger solar, wind, hydro “Power Stations” and the Small Scale Renewable Energy Scheme (SRES) that supports the installation of rooftop solar systems that are less than 100kW, solar water heaters, and other small renewable generators. Both targets are highly focused on increasing and improving renewable energy sources.

The SRES provides an upfront incentive based on the nominal generation through to 2030.

Talk to Wattly today about your next project and how to unlock one of the RET Schemes below:

 

CategoryName/CertificateInstallationsResidentialBusinessWattly Accredited
RET Small-ScaleSRES / STCSolar PV < 100 kW, Wind < 10 kW,
Hydro < 6.4 kW, Solar water heaters ,
Air sourced heat pumps < 425L
YESYESYES
RET Large-ScaleLRET / LGCSolar PV > 100 kW, Wind > 10 kW,
Hydro > 6.4 kW, Waste to energy,
Geothermal, Biogas
NOYESYES

 

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Frequently Asked Questions about Federal Renewable Energy Target (RET)

The Federal Renewable Energy Target scheme, also known as the RET Scheme, is an Australian scheme designed to reduce emissions of greenhouse gases. It is a scheme available for the electricity sector and is designed to encourage additional generation from sustainable and renewable sources, such as solar, wind and hydro. Since January 2011 the RET scheme has operated in two parts - the Small scale Renewable Energy Scheme (SRES) and the Large-scale Renewable Energy Target (LRET).
The Renewable Energy Target is broken into two separate schemes, both schemes, The Small-scale Renewable Energy Scheme (SRES), and The Large-scale Renewable Energy Target (LRET) offer a financial incentive for the generation of electricity from renewable resources. A certificate is issued from an approved person, such as Wattly based on the megawatt-hour of power they generate. To find out more details about the schemes and certificates please read the other Frequently Asked Questions on Federal Renewable Energy Target.
• The Federal Clean Energy Regulator (CER) administers the scheme • The Federal Department of Environment is responsible for policy advice.
• The scheme places and obligation on liable parties (usually energy retailers) to purchase both LGCs and STCs. Their obligation is proportional to the amount of energy they sell. • Energy Retailers face Penalties for failing to meet (surrender) their quota of certificates • Costs recovered from consumers (through charges on their electricity bills)
The Small-scale Renewable Energy Scheme is part of the RET scheme. It is a financial incentive for individuals, small businesses and community groups to install smaller systems which produce electricity and/or deliver hot water. Small-scale may include, solar panels, solar water heaters, hydro systems, wind turbines and air source heat pumps.
An individual, small business or community group can install a small-scale system, such as rooftop solar, small-scale wind, solar hot water heaters and heat pumps. They are then eligible to receive government incentives.
A small-scale technology certicate, also known as a STC is a tradable commodity that is attached to approved and installed solar energy systems.
This starts when a small-scale renewable energy source is replaced by a licensed installer/installation company. Once done, the installer will then provide pertinent documents to Wattly based on the compliance requirements set by the Clean Energy Regulator. Wattly will then process an audit of the requirements and if the upgrade is deemed compliant, an application for certificate registration is done. The STCs can only be created by those who are accredited (an AP), such as Wattly. These are then sold to a liable party, such as an Energy Retailer.
The Large-scale Renewable Energy Target Scheme provides a financial incentive to establish or expand renewable power stations, such as wind and solar farms or hydro-electric power stations.
Accredited renewable power stations are entitled to create Large-scale Generation Certificates (LGCs) based on the amount of eligible renewable electricity they produce above their baseline. This is for every megawatt hour of power they generate, thus creating the 'supply' side of the certificate market. This may include commercial rooftop solar systems over 100kW, and in some cases multiple smaller systems at a single facility.
A Large-scale Generation Certificate, or LGC, is a digital certificate, created per megawatt-hour (MWh) of eligible electricity generated by a power station.
Once your power station has been accredited you can create LGCs for the electricity generated from eligible renewable energy sources. One LGC is equivalent to one MWh of eligible electricity generated by the power station. The certificates are created on a sporadic basis throughout the year, or annually dependant on the need, however, LGCs are only claimable after the generation has occurred.

Wattly’s industry experience and knowledge of renewable energy markets can ensure the
success of your large-scale renewable energy projects. Wattly is accredited in both SRES and
LRET.

 

About the SRES

The Small Scale Renewable Energy Scheme (SRES) supports the installation of rooftop solar systems under 100kW, solar water heaters, and other small renewable generators, by providing an upfront discount in the form of Small Scale Technology Certificates (STCs). Equipment used in upgrades must be approved by the Clean Energy Council. STCs for a system are calculated from an estimate of the energy generation and can be deemed upfront for the entire remaining period of the scheme (ends in 2030).
STCs can be sold either through the Spot Market, which is dependent on supply and demand and typically varies between $30 and $40 per STC, or the Clearing House, which provides a fixed price of $40 per STC at the point of purchase by a buyer.
Wattly has a streamlined process for STC creation for small renewable generators and solar water heaters, taking the fuss out of accessing your system’s funding.

 

About the LRET

The Large-Scale Renewable Energy Target (LRET) creates a financial incentive that rewards electricity generation from renewable energy power stations, such as wind and solar farms, and biomass electricity generators. Commercial rooftop solar systems over 100kW are eligible for LGCs, and multiple smaller systems at a single facility may also be eligible to be aggregated into an LRET power station.
Certificates are created annually in arrears for each MWh of generation. The scheme will continue to operate until 2030, and can thus provide a valuable income source from your commercial solar system or renewable power station.
The challenge, however, is that gathering the right data, registering your power station, and negotiating with the Clean Energy Regulator to get access to the LGCs can be complicated and time consuming. Not only that, but you need to have a registry account, find a buyer for the LGCs, and ensure you get a good price. This can be difficult and you don’t know if you are getting a good deal.
Wattly helps owners of eligible renewable energy power stations access Large-scale Generation Certificates (LGCs), get their power station developed and earn certificate revenue.

Partnering with Wattly

Wattly partners with businesses involved in energy efficiency and
renewable energy installations to enable them to financial based
incentives under the state and federal schemes.

Wattly partners with both energy efficiency installation companies, electricians, equipment
suppliers and end businesses performing upgrade

Get in touch

For further information, or to discuss how Wattly can help you, please call us.

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