Renewable Energy Certificates or RECs were introduced by the Australian Federal Government as an incentive to assist the switch to renewable energy sources as part of its policies to ensure Australia meets its international commitments in reducing greenhouse gas emissions.
It introduced the Renewable Energy (Electricity) Act 2000, supported by the Renewable Energy (Electricity) Regulations in 2001, to increase renewable electricity generation from Australia's renewable energy sources by encouraging the generation of an additional 9,500 GWh of renewable energy per year by 2010. This has had a substantial impact on the water heating industry.
Measuring the amount of renewable energy produced, or non-renewable energy displaced, is done via the creation of Renewable Energy Certificates (RECs). A REC for a solar water heater is the equivalent of 1 MWh of renewable energy produced, or non-renewable energy displaced, over a ten-year period.
The installation of a solar water heater may be eligible for the creation of RECs if it is accredited by the Office of Renewable Energy Regulator (ORER) and results in a positive greenhouse gas benefit. Once created RECs can be traded, purchased or sold, thereby making a solar water heater installation cheaper for the owner.
The value of RECs is not fixed and varies from time to time check out the the RECs calculator to see the current value that Solahart Industries Pty Ltd is offering to purchase your REC's for
The Owner of the solar water heater can assign the right to create RECs to Solahart and Solahart will reimburse the Owner for the value of the RECs.
To calculate the available RECs for your Solahart system visit our RECs Calculator.
Downoad the Solahart RECS Assignment Form here
For full details on RECs visit the ORER website