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Assessing the validity of created certificates

 

A total of 212,558,023 certificates had been created in the Renewable Energy Certificate (REC) Registry as at 31 December 2012. In accordance with the Act:

  • only registered large-scale generation certificates (LGCs) created between 2001– 2011 can be used to acquit a liable entity’s 2011 LGC liability
  • only registered small-scale technology certificates (STCs) created by 31 December 2011 or directly purchased from the STC Clearing House between 1 January 2011 to 14 February 2012 and surrendered can be used to acquit a liable entity’s 2011 STC liability, and
  • only parties that applied to transfer STCs to LGCs were allowed in the REC Registry to convert STCs to LGCs. As at 31 December 2012, a total of 599,564 STCs were converted to LGCs.

Table 2: Certificate activity summary for 2012

Certificate activity LGCs STCs
Created 11,678,385 39,373,291
Failed validation audit 77,108 1,505,934
Passed validation audit 11,766,184 37,522,138
Registered 11,794,355 37,683,959
Transferred successfully 39,267,323 100,773,857
Entered STC Clearing House - 5,731,533
Transferred successfully in STC Clearing House - 1,118,446
Withdrawn from STC Clearing House - 6,342,424
Bought from STC Clearing House - 4,842
Converted from STC 300,000 -
Accepted for annual surrender 10,569,483 -
Accepted for voluntary surrender 2,648,368 8,300
Accepted for quarterly surrender - 43,853,571

Note: This table replaces the table from previous administrative reports which summarised end of year certificate statuses. The activities represent transactions that involved certificates in the REC Registry. Not all transactions are shown.

Details of the 2012 liability compliance year will be provided in the Renewable Energy Target 2013 Administrative Report.

As shown in the following graphs, a wide range of eligible renewable energy sources were used to create certificates in 2012. Not all accredited renewable energy power stations, Agents or individuals created certificates in 2012.

As was the case in previous years, the Clean Energy Regulator recommended that registered persons create their eligible certificates by 31 December 2012 to ensure certificates could be validated by the Clean Energy Regulator in January 2013 and be available for trading to liable entities prior to the compliance date of 14 February 2013.

Graph 1: LGCs validly created by 31 December 2012 for eligible/renewable energy sources under the LRET

Graph 1: LGCs validly created by 31 December 2012 for eligible/renewable energy sources under the LRET
Fuel Source LGCs
Biomass 15710492
Small generation units 29085245
Solar water heaters 21168454
Hydro 13739193
Wind 32948408
Waste coal mine gas 292336
Solar 36165

* Biomass includes multiple energy sources under the Act (agricultural waste, bagasse, bagasse co-generation, biomass-based components of municipal solid waste, black liquor, crop waste, energy crops, food and agricultural wet waste, food processing waste, food waste, municipal solid waste combustion, sewage gas, sewage gas and biomass-based components of sewage, waste from processing of agricultural products and wood waste).

Note: Validated on or before 27 January 2013.

Graph 2: STCs validly created by 31 December 2012 by eligible small-scale systems under the SRES

Graph 2: STCs validly created by 31 December 2012 by eligible small-scale systems under the SRES
Fuel Source STCs
SWH - Solar (Deemed) 3,905,251
SWH - Air Source Heat Pump (Deemed) 800,524
SGU - Wind (Deemed) 5,041
SGU - Solar (Deemed) 84,454,240
SGU - Hydro (Deemed) 405

Note: Validated on or before 27 January 2013.

Certificates created by power stations

Under Section 19 of the Act, accredited renewable energy power stations were allowed to create certificates for eligible renewable electricity generated above the renewable energy power station’s baseline for the 2011 generation year by the 31 December 2012 deadline. Renewable energy power stations that did not create certificates within the allowed timeframe are no longer eligible to create certificates for eligible renewable electricity generated in the 2011 generation year.

Certificates created by small-scale systems

Under Section 21 of the Act, eligible solar water heater and heat pump water heater certificates must be created within 12 months of the installation date.

Under Regulation 19D of the Regulations for Section 23A of the Act, eligible small-scale solar panel, wind and hydro (referred to as SGUs) installed on or after 6 October 2007 must create certificates:

  • within 12 months of the installation date for a one year or five year period
  • at the end of the period that the right was exercised to create certificates. For example, a person created certificates for an installation for one year. At the end of that period the person may create certificates for another year until the end of the scheme, and
  • within 12 months of the installation date for a 15 year period. If this option is chosen no further certificates can be created for the installation.

SGUs installed between 1 April 2001 and 5 October 2007 are eligible to create certificates at any time for a one or five year period. At the end of each period owners or Agents (if the certificates have been assigned) can create certificates for the next deeming period.

If Agents or individuals do not create certificates within the allowed timeframe they are no longer eligible to create certificates for their small-scale installation.

Graph 3: Number of certificate (LGCs and STCs) transactions by month for 2012

Graph 3: Number of certificate (LGCs and STCs) transactions by month for 2012
Row Labels Created Failed validation audit Passed validation audit Registered
Jan 2012 3,025,738 83,297 3,546,401 4,211,419
Feb 2012 3,638,460 156,036 3,210,888 3,268,460
Mar 2012 3,746,819 106,401 3,196,048 3,350,814
Apr 2012 3,512,263 114,729 3,189,713 2,966,853
May 2012 4,974,581 159,935 5,086,730 4,888,743
Jun 2012 5,985,267 171,921 4,699,295 4,738,483
Jul 2012 5,153,106 142,378 5,520,223 5,328,433
Aug 2012 4,805,168 160,040 4,286,231 4,588,270
Sep 2012 4,418,926 185,914 5,106,110 4,509,244
Oct 2012 3,885,137 97,884 3,790,392 4,383,596
Nov 2012 4,220,544 137,900 4,090,264 3,552,702
Dec 2012 3,685,667 66,607 3,566,027 3,691,297

           

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