The Large-scale Renewable Energy Target (LRET) incentivises the development of renewable energy power stations in Australia through a regulated market for the creation and sale of large-scale generation certificates (LGCs).
Power stations accredited in the LRET are able to create LGCs for electricity generated from that power station’s renewable energy sources. LGCs can then be sold to entities with liabilities under the LRET (mainly electricity retailers) to meet their compliance obligations.
Liable entities are required to buy LGCs from the market and surrender these certificates to the Clean Energy Regulator on an annual basis. The number of LGCs required to be submitted by liable entities is set each year through the renewable power percentage.
LGCs can also be sold to companies and individuals looking to voluntarily offset their energy use and emissions.
The accreditation of power stations and creation of LGCs continues under the LRET until 2030.
To participate under the LRET, power stations must generate electricity from eligible renewable energy sources such as solar, wind and hydro and meet other legislative requirements.
Electricity generated from fossil fuels, or waste products derived from fossil fuels, is not eligible electricity for the creation of LGCs.
Learn more about the eligibility criteria for power stations under the LRET.
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