The Australian Government is supporting the deployment of renewable energy in Australia's electricity supply through the Renewable Energy Target (RET) scheme. The RET guarantees a market for additional renewable energy generation, using a mechanism of tradeable Renewable Energy Certificates known as RECs (backed by a legislative obligation).

Solar Credits is a mechanism within the RET scheme that boosts support to households, businesses and community groups that install small-scale solar PV, wind and hydro electricity systems by multiplying the number of RECs able to be created for eligible installations.

How the new rebate scheme works.

Under the new Solar Credits Scheme, solar energy systems attract a 5 times multiplier to the number of RECs for the first 1.5kW.

Example 1.

*The above example assumes that 1REC is trading for $40.00.

Since the above example is for a 1.5kW system it attracts a 5x multiplier to the entire 31 RECs.

Example 2.

*The above example assumes that 1REC is trading for $40.00.

The system in the example above is a 3.0kW system, twice the size as the previous example, but only only attracts the 5x multiplier for the 1st 31 RECs and therefore does not attract twice the monetary rebate.

REC Prices

The current REC price is: $26.00 - as of 18 Apr 2011

We endeavor to keep the information on this site as up-to-date as possible; but if you would like to check the current price for RECs please Contact Us.

Extra Information

For more information about solar rebates, please visit - www.climatechange.gov.au