What Australia Renewable Energy (Electricity) Act 2000 - RET Scheme, LGCs, STCs and Clean Energy Regulator requires
Australia's Renewable Energy (Electricity) Act 2000 (Cth) (RET Act) established the Renewable Energy Target (RET) scheme to incentivise additional electricity generation from renewable sources; from 2011 the scheme was split into the Large-scale Renewable Energy Target (LRET) and Small-scale Renewable Energy Scheme (SRES); LRET requires electricity retailers and large users (liable entities) to surrender Large-scale Generation Certificates (LGCs) equal to a legislated percentage of their electricity acquisitions each year - target was 33,000 GWh of renewable electricity per year by 2020 (achieved); SRES creates Small-scale Technology Certificates (STCs) for eligible solar PV, solar water heater, and heat pump installations, with an upfront financial benefit to households; liable entities under LRET who fail to surrender sufficient LGCs pay a shortfall charge of AUD 65 per MWh (non-tax-deductible); the Clean Energy Regulator (CER) administers both schemes including accreditation of renewable power stations, the REC Registry, compliance reporting, and enforcement; the Safeguard Mechanism (reformed July 2023) complements the RET scheme for large industrial emitters.
Pillar: Energy & Utilities · Authority: Clean Energy Regulator (CER); Department of Climate Change, Energy, the Environment and Water, Australian Government · Version: 1.0.0 · Last updated:
Primary source: https://www.cleanenergyregulator.gov.au/
SHA-256 integrity: d545c824e1b5fe1bd9931ef836e1f3ebd80d2e0e8c5eec2f96311ac89f3209f4
Primary Citations — 6 traced to source
- {"title":"Renewable Energy (Electricity) Act 2000 - Federal Register of Legislation Australia","url":"https://www.legislation.gov.au/Details/C2023C00217","section":"Section 14 (renewable power station accreditation); Section 36 (liable entity definition - 100 MWh threshold); Part 2 Division 2-4 (LRET annual surrender obligation and shortfall charge AUD 65/MWh non-tax-deductible); Part 2 Division 5 (EITE exemption - REECs); Sections 100-104 (REC Registry)"}
- {"title":"Clean Energy Regulator - RET Scheme Administration and Compliance","url":"https://www.cleanenergyregulator.gov.au/RET","section":"Annual surrender deadlines (14 February); renewable energy percentage publication; REC Registry operation; LGC accreditation process; STC deeming calculator; SRES small-scale installation registration; compliance audit framework; voluntary disclosure policy"}
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