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RECs: Renewable Energy Certificates

 

The Federal Government’s Renewable Energy Certificates (RECs) Scheme is designed to assist homeowners with the upfront cost of a solar power system.

Based on the size of your system and which geographical zone you’re in, the government estimates the amount of renewable energy you are likely to produce over the next 15 years and allocates you a certain number of RECs.

As a further incentive to encourage homeowners, the Federal Government introduced the RECs Multiplier. The RECs Multiplier applies to the first 1.5kW of capacity of all eligible solar power systems and multiplies the number of RECs your entitled to by up to a factor of 5.

The Federal Government recently announced changes to the RECs Multiplier where it was reduced from 5 to 3 for installations that occur after July 1, 2011.

In South-east Queensland we are in Zone 3 and the calculation is as follows:

Example:

1.52kW x 1.382 x 15 years = 31 RECs x 3 = 93 RECs

The current price for each REC fluctuates according to market supply and demand.

The Multiplier will continue to be lowered each year in line with the Government’s pre-determined schedule.

 

 

 

 

 

All the government paperwork was taken care of and we received the full benefit of the government RECs up front. right qoute

- Mrs. J. & P.K. Helensvale, QLD