Accredited renewable energy power stations are entitled to create large-scale generation certificates based on the amount of eligible renewable electricity they produce above their baseline. As a guide, one large-scale generation certificate is equal to one megawatt hour of eligible renewable electricity.
Once created and validated, these certificates act as a form of currency and can be sold and transferred to other individuals and businesses at a negotiated price. Large-scale generation certificates are usually sold to liable entities (electricity retailers), who are required to surrender a set number of certificates to the Clean Energy Regulator each year.
The Renewable Energy Target is supported by an online registry system, called the
REC Registry, which facilitates the creation, registration, auditing, transfer and surrender of large-scale generation certificates and
small-scale technology certificates.
Large-scale generation certificates are sold through the open large-scale generation certificate market (LGC market), where the price varies depending on supply and demand along with other market factors. Payment for sold large-scale generation certificates is completed outside of the LGC market and the REC Registry.
Learn more about creating large-scale generation certificates, and buying, selling and transferring large-scale generation certificates.
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.