Solar Credits scheme

The Solar Credits program is based on the Renewable Energy Certificate system for systems up to 10KW, with an extra incentive offering 3 x the usual number of RECs issued for solar power systems up to 1.5kW

By increasing the number of RECs issued with qualifying components and systems, the Australian government hopes to achieve a goal of 45,000 gigawatt-hours (GWh) of electricity via renewable means such as solar, wind and geothermal by the year 2020; although there has been no adjustment to the target to represent the “phantom” or multiplier certificates created for systems up to 1.5KW.

From 1st July 2011 the REC on a solar Power system is calculated by multiplying the rated output of the system in KW by the factor of the Zone (Zone 3 = 1.382), multiplyed by the deeming period of 15 years, rounded down, and in the case of systems up to 1.5KW multiplyed by 3.

For a 1.5KW system: 1.5 X 1.382 X 15 X 3 = 93 REC’s. (Zone 3).

For systems above 1.5KW add 93 REC’s to the KW figure over 1.5KW:

For a 4KW system: 93 + (2.5 X 1.382 X 15 = 51) = 144 REC’s (Zone 3)

The value of each REC/STC as of 10th May 2011 is $26

Further information available from the Office of Renewable Energy Regulator:

http://www.orer.gov.au/

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