Renewable Energy Target Introduction to the Large-scale Renewable Energy Target
Who administers the Renewable Energy Target? The Renewable Energy Target is one of the schemes administered by the Clean Energy Regulator. Webinar 23 May 2016 2
What is the Renewable Energy Target? The target is designed to: Certificates are purchased by electricity • reduce emissions of retailers who sell the greenhouse gases in the electricity to electricity sector and householders and • encourage the additional businesses. generation of electricity This creates a market from sustainable and which provides financial renewable sources. incentives to both large- Large-scale power stations and scale renewable energy the owners of small-scale power stations and the systems are able to create owners of small-scale certificates for every megawatt renewable energy hour of power they generate. systems . Webinar 23 May 2016 3
Renewable Energy Target Small-scale Large-scale • • driven by supply driven by demand • • encourages small-scale encourages new investment in renewable energy system large-scale renewable energy installations • 33 million megawatt hours of • uncapped additional renewable electricity from renewable sources by 2020 • Certificate entitlement deemed • and provided up front certificate entitlement based on electricity generation • does not contribute to the 2020 • target market sets the price of certificates (no price cap and no • certificate price capped at $40 clearing house) (clearing house) Webinar 23 May 2016 5
Spot prices – what's been happening? 6 Webinar 23 May 2016
Do the numbers stack up? Pie factory A Pie factory B • • Uses 200 MWH/yr Uses 200 MWh/yr • Installs solar PV generating 100MWh/yr • Purchases 10% green power • Purchases 10% green power • Pays for: • Generates 100 LGCs/yr • Electricity used (approx $30,000) • Pays for: • STP (approx $1,000) • Electricity used (approx $15,000) • STP (approx $500) • RPP (approx $2500) • RPP (approx $1250) • Green power (approx $2,000) • Green Power (approx $500) • Total: approx $35,500 • Generates revenue from 100 LGCs (approx $8000) • Total: approx $9,250 Webinar 23 May 2016 7
The opportunity in the LRET Webinar 23 May 2016 8
Participation: Large- scale Renewable Energy Target
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Large-scale Renewable Energy Target (LRET) Who can participate? 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 Webinar 23 May 2016 11
Fuel sources under the LRET To participate under the Large-scale Renewable Energy Target, power stations must generate electricity from eligible renewable energy sources. Eligible renewable energy sources include, but are not limited to the following; Wind Water Sun Land Waste wind turbines hydro solar PV bagasse food waste wave energy crops landfill gas tide geo-thermal biomass See section 17 of the Renewable Energy (Electricity) Act 2000 for a complete list of eligible renewable energy sources. Webinar 23 May 2016 12
Large-scale Renewable Energy Target (LRET) How to apply 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. Webinar 23 May 2016 13
Large-scale Renewable Energy Target (LRET) 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. Webinar 23 May 2016 14
Large-scale Renewable Energy Target (LRET) 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. Webinar 23 May 2016 15
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 Webinar 23 May 2016 16
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 Webinar 23 May 2016 17
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Large-scale Renewable Energy Target (LRET) How to apply 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 . Webinar 23 May 2016 21
Large-scale Renewable Energy Target (LRET) 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. Webinar 23 May 2016 22
Large-scale Renewable Energy Target (LRET) 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. Webinar 23 May 2016 23
Questions? RETPowerstations@cleanenergyregulator.gov.au 1300 553 542 www.cleanenergyregulator.gov.au 24
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