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Post globe andrew livingston

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Post Globe 2010

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Post globe andrew livingston

  1. 1. The changing face of Australian renewable energy regulation<br />Andrew Livingston<br />Renewable Energy Regulator <br />March 2010<br />
  2. 2. 2<br />Objectives of the RET<br /><ul><li>Encourage additional generation of electricity from renewable energy sources
  3. 3. Ensure renewable energy sources are ecologically sustainable</li></li></ul><li>3<br />RECs defined<br /><ul><li>A commodity in the REC Market.
  4. 4. RECs are created by eligible parties and sold to liable parties via the REC Registry to meet their liability under the RET.
  5. 5. Exist in the REC Registry
  6. 6. Based on 1 MWh of electricity</li></li></ul><li>4<br />
  7. 7. 5<br />Information contained in the REC Registry<br />
  8. 8. 6<br />Eligibility<br />Owners of Solar Water Heaters and Small Generation Units<br /><ul><li> Date of installation
  9. 9. Model
  10. 10. Accredited installer
  11. 11. kW capacity
  12. 12. Solar credits</li></ul>Renewable Energy Power Stations <br /><ul><li> Obtain development and environmental approvals
  13. 13. Provide details to ORER regarding operation</li></li></ul><li>7<br />REC Price fall<br />
  14. 14. 8<br />Outcomes of MRET/RET<br /><ul><li> Increased investment in renewables
  15. 15. Total investment approximately $8 billion
  16. 16. Generating capability is over11,000gigawatt hours (GWh)
  17. 17. This is equivalent of the residential electricity needs of over1.7million households</li></li></ul><li>9<br />Outcomes of MRET/RET<br /><ul><li> 291 power stations accredited and over 552,000 deemed small generation units since inception
  18. 18. Voluntary surrender > 2 mil RECs in 2009
  19. 19. Scheme participants > 220,000 in 2009
  20. 20. Number of RECs created 7 mil > than 2008
  21. 21. Near to 100% compliance by liable parties</li></li></ul><li>10<br />
  22. 22. 11<br />
  23. 23. 12<br />Number of RECs and Annual Targets<br />
  24. 24. 13<br />
  25. 25. 14<br />Further Information<br />Two websites:www.orer.gov.au website provides information on Act and participation. Detailed Information, forms and fact sheets about the scheme are available from ORER websitewww.rec-registry.gov.au details of four registries Register of RECsRegister of accredited power stationsRegister of applications for power stations and Register of registered persons<br />

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