Creating Renewable Energy Certificates

Under the Act accredited power stations will be given a 1997 eligible renewable power baseline. Power stations will create renewable energy certificates (RECs) when they generate power using renewable energy sources79 that exceed the 1997 baseline.80 Certificates can also be created by installations of solar hot water heaters that are installed after January 2001 and which replace non-renewable heaters.81

A generator needs to be registered and accredited before a certificate can be issued in relation to the power generated by it. If an application for accreditation is approved, the power station must be allocated a unique identification code and it must be advised of the code.82 Certificates must be created electronically containing a unique identification code, the electronic signature of the person who created the certificate, the date on which the electricity was generated and the date on which the certificate was created. Certificates must be registered with theRegulator. It is an offence of strict liability to create a certificate that one is not entitled to create and a penalty can be imposed in respect of the creation of each improperly created certificate. Once registered, certificates can be transferred to any person subject to the Regulator being notified. Any body accredited by the Australian Securities and Investment Commission or similar body can act as a broker in renewable energy certificates between renewable electricity generators, liable parties and third parties.83 Once a certificate is surrendered by a liable party to the Regulator it loses its validity.84

Solar Panel Basics

Solar Panel Basics

Global warming is a huge problem which will significantly affect every country in the world. Many people all over the world are trying to do whatever they can to help combat the effects of global warming. One of the ways that people can fight global warming is to reduce their dependence on non-renewable energy sources like oil and petroleum based products.

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