Early Start To Australia’s Small Scale Renewable Energy Scheme?

Late last month, the Government announced that from the beginning of next year,  Australia’s Renewable Energy Target, will comprise two arms Small-scale Renewable Energy Scheme (SRES) and the Large-scale Renewable Energy Target (LRET).
   
The SRES will apply small-scale technologies such as residential solar power and solar hot water systems and will provide a fixed price of $40 per Renewable Energy Certificate (REC).
 
The move was made in order to arrest the downward spiral of REC prices and its effects of slowing down solar power uptake and major renewable energy projects. As the Solar Credits rebate is based upon RECs and renewable energy certificate values dependent on market forces, the recent dip in value has seen rebate amounts substantially clipped.
 
With the new scheme still nearly ten months away, Opposition environment spokesman Greg Hunt has questioned why it cannot be implemented far sooner. Mr. Hunt will move an amendment that would bring the start date of the new system to July 1.
 
National solar power provider Energy Matters isn’t willing to wait even that long. 
  
The company has announced it will pay the $40 per renewable energy certificate to purchasers of systems acquired through Energy Matters, effective immediately. 
  
According to Energy Matters co-founder, Max Sylvester; “Prior to the renewable energy certificate value crash, we had arrangements in place so we could guarantee the $40 value per REC long after most in the industry followed the downward trend. While we applaud the Rudd Government’s move to revamp the RET and the Opposition’s encouragement for it to start sooner, July is still too far off.”
  
“People will be putting off solar power installations based on this, and if recent history regarding solar rebates has taught us anything, it’s that nothing is set in stone. We’re happy to announce that businesses and households can receive the full $40 per REC as a point of sale discount through Energy Matters, so they can start saving money on their electricity bills right now and make a dent on Australia’s growing greenhouse gas emission problem.”
   
The Solar Credits program bases REC calculation on the equipment involved and where it will be installed. Regions of Australia are divided into various REC zones.
   
At a value of $40 per renewable energy certificate; businesses, community groups and householders can receive up to $7,200 off as a point of sale discount on a 1.5 kW solar power system supplied and installed by Energy Matters; depending on installation location. Energy Matters also offers an instant online solar quoting tool that incorporates the higher value REC pricing.