Rebates

Rebates are offered to the market to promote the uptake of renewable energy generation and consumption. These rebates come in a variety of forms, and from different levels of government.

As a hassle free Solar Power Purchase Agreement (SPPA) partner, Energy Terrain takes care of all aspects of rebates programs that are available to a particular site. The net benefit to the customer is a reduction of the installation costs, which is reflected from day one in the lowest possible cents per kWh rate for the energy produced on a customers roof.

There are three main programs available for use and integration into a solar power purchase agreement solution, namely:

Small-scale Technology Certificates (STCs) can be created for any solar power system that is less than 100kW in size, and is able to generate a total annual electricity output no more than 250MWhs. Each certificate is equivalent to one megawatt hour (MWh) of generated electricity. STCs need to be created within 12 months of an eligible installation, with the value of the certificate discounted (to the date of installation) being available to the SPPA provider. Reducing the installation costs, and therefore lowering the SPPA c/kwh rate.

The Large-scale Renewable Energy Target (LRET) was introduced by the Australian Government to encourage additional generation of electricity from renewable energy sources to meet the Government’s commitment to achieving a 20 per cent share of renewables in Australia’s electricity supply.

To supply certificates into the market, to contribute to the LRET, LGCs are created for any solar power system that can generate 100kW or more. Each certificate is equivalent to one megawatt hour (MWh) of generated electricity. The certificates can be generated annually and are sold in a LGC market for additional income. This income is invested into the installation and running costs of the generation system, by the SPPA provider.

The owner of the LGCs can be either the customer or the SPPA provider, with the expected future price of each certificate to be redeemed at different dates in the future being a risk that is factored into the value at the start of the SPPA term.

Victorian Energy Efficiency Certificate (VEEC) is an electronic certificate for residential or non-residential energy efficiency activities. Each certificate represents one tonne of greenhouse gas emissions reduction. These certificates are purchased by energy retailers who have a liability under the program to surrender a certain number of certificates each year to the Victorian government. Only entities accredited by the Essential Services Commission can create VEECs under the Victorian Energy Upgrades (VEU) program.

Expert panel on game changing solar rebate pricing for Victorian businesses

Webinar - September 15th 2021

Rebates

1. Small-scale Technology Certificates (STCs)

2. Large-scale Generation Certificates (LGCs)

3. Victorian Energy Efficiency Certificates (VEECs)

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