The Federal government of Australia has defined a target of 33,000 Giga watts as per the policy for renewable energy. This accounts for 23.5% of Australia’s total electricity generation.
This target of renewable energy includes both the Large Scale Renewable Energy Target (LRET) and Small Scale Renewable Energy Scheme (SRES). In an effort to support these initiatives, we have complied with the Federal government requirements and accordingly built our solutions. Some technical details of the STC and LGC are given below
- STCs are termed as Small Scale Technology Certificates.
- STCs are eligible for small scale renewable energy installations under 100 kilowatt.
- STCs are generated by a small scale solar panel, wind or hydro system over one or five years, or a single maximum deeming period.
- 1 STC is equal to 1 megawatt-hour of eligible renewable electricity either generated or displaced by the system
- LGCs are termed as Large Scale Generation Certificates.
- LGCs are associated with large-scale renewable energy installation above 100 kilowatts.
- 1 LGC can be created for each megawatt-hour of eligible renewable electricity produced by an accredited renewable power station.
- LGCs can be sold to Electricity retailers who surrender them annually to the Clean Energy Regulator.
- LGCs acts as currency for renewable energy and prices fluctuate with supply and demand.