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Glossary

Accredited power station

Power stations that generate electricity from an eligible renewable energy source can apply to participate in the Large-scale Renewable Energy Target by applying to become an accredited power station. Accredited power stations can create large- scale generation certificates for electricity generated from their renewable energy sources.

Baseline

The baseline is the amount of eligible electricity that an accredited power station must generate during a year before large- scale generation certificates can be created. The Clean Energy Regulator determines baselines for power stations that operated before 1997 as prescribed by the Renewable Energy (Electricity) Regulations 2001.

Certificate spot price

Certificate spot price refers to the current market price for large-scale generation certificates and small-scale technology certificates.

Committed projects

Committed projects are large-scale renewable energy projects that have received all development approvals and reached a final investment decision according to the commercial understanding of the term.

Delivered capacity

Refers to the capacity installed under the Small-scale Renewable Energy Scheme or accredited under the Large-scale Renewable Energy Target. Utility-scale capacity delivered may not reach full generation capacity until later years.

Displaced/displacement

The reduction in demand for electricity from the grid attributed to the installation of a solar water heater or air source heat pump.

Generation from accredited renewable energy power stations

Accredited power stations can create large- scale generation certificates up until the end of the calendar year after the year in which they generated the electricity.

The number of large-scale generation certificates reported for a year may be adjusted in future.

Gigawatt

A gigawatt is a measurement of power. Power is the rate at which electrical energy is generated or used. One gigawatt is equal to 1 million kilowatts or 1,000 megawatts.

Gigawatt hour

A gigawatt hour is a measure of electrical energy equivalent to 1,000 megawatts being used for 1 hour.

GreenPower

GreenPower is the only voluntary state and territory government accredited program that enables electricity providers to purchase renewable source electricity on behalf of households or businesses.

Kilowatt

A kilowatt is a measurement of power. Power is the rate at which the energy is generated or used. One kilowatt is equal to 1,000 watts.

Kilowatt hour

A kilowatt hour is a measure of electrical energy equivalent to 1,000 watts being used for 1 hour.

Liable entity

A person who, during a year, makes a

relevant acquisition of electricity is called a liable entity. Liable entities are mainly electricity retailers.

Megawatt

A megawatt is a measurement of power. Power is the rate at which electrical energy is generated or used. One megawatt is equal to 1 million watts or 1,000 kilowatts.

Megawatt hour

A megawatt hour is a measure of electrical energy equivalent to 1,000 kilowatts being used for 1 hour.

Power purchase agreement

A power purchase agreement is a contract between two parties, one which generates electricity (the seller) and the other looking to purchase electricity (the buyer). Under the Renewable Energy Target, the seller is often the operator of a large-scale renewable energy power station, and the buyer is often an electricity retailer (liable entity).

Probable projects

Probable construction or probable projects have a high degree of confidence that they will proceed following a public announcement of a power purchase agreement with a strong counterparty or other evidence of funding.

Renewable power percentage

The basis for calculating the number of large-scale generation certificates that a liable entity must surrender for a given year. The calculation is set out in the Renewable Energy (Electricity) Regulations 2001.

Shortfall charge

Liable entities who fail to meet their compliance obligations under the Renewable Energy Target are required to pay a shortfall charge. This charge is $65 per megawatt hour of shortfall and is not tax deductable.

Small-scale technology percentage

The basis for calculating the number of small-scale technology certificates that a liable entity must surrender for a given year. The calculation is set out in the Renewable Energy (Electricity) Regulations 2001.

Substandard

A substandard small-scale system does not meet key clauses in the Clean Energy Council standards and requirements for installation, or relevant Australian Standards, and may lead to premature equipment failure or other issues. The installation work and or equipment should be improved. The system owner should contact the installation company or a qualified installer to rectify the items listed for improvement.

Unsafe and potentially unsafe

PV systems with any of the following checklist items marked unsafe have been categorised as unsafe: exposed live parts, and PV panels not securely mounted to the roof. PV systems can also be rated unsafe due to other reasons that do not have a specific checklist item. For example, a system may have a number of non-compliant wiring checklist items that individually are not a safety risk but together make a system unsafe. These systems are also categorised as unsafe. PV systems with the following items marked unsafe have been categorised as potentially unsafe: water ingress in the DC isolator enclosure near the inverter, water ingress in the rooftop (array) DC isolator enclosure, and water ingress in cable junction boxes.


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