ERET
Changes to the Renewable Energy Target
From 1 January 2011 the Federal Renewable Energy Target (RET) has been split into two parts, the Large-scale Renewable Energy Target (LRET) and the Small-scale Renewable Energy Scheme (SRES).
LRET – Covers large scale renewable energy projects and will deliver 41,000 GWh of Renewable Energy Generation by 2020, and operates much the same as the previous RET. Electricity Retailers are required to surrender certificates annually for the previous calendar years liability.
SRES - This scheme applies to eligible small scale generation such as solar water heaters and small-scale solar photovoltaic panels, wind and hydro systems. The introduction of the SRES presents a new scheme for Standard Retail Suppliers to comply with. Electricity Retailers are required to surrender certificates at the end of each quarter with a "true up" around February for the previous calendar years liability.
For more information on the LRET/SRES please visit the
ORER's website.