If solar panels, wind turbines and hydro pipelines are the public face of the Renewable Energy Target, the REC Registry is the essential backroom support.
All transactions under the Renewable Energy Target are completed in the REC Registry: on average some 1 120 transactions a day. This includes participants creating, transferring and surrendering renewable energy certificates. Clean Energy Regulator staff also use the REC Registry as an essential business tool in administering the scheme, for example to assess applications submitted online by participants and to efficiently validate large numbers of certificates.
Since its first release in 2001, the REC Registry has supported around 5.5 million transactions. It is available 24-hours-a-day, seven-days-a-week to its 13 554 account holders.
To keep pace with these requirements, the maturing of the scheme and emerging technologies, a completely redesigned REC Registry was released on 15 September 2014.
Detailed stakeholder and client consultation informed the redesign, which began in 2012 after an open tender process. The new system features critical improvements to functionality and usability.
The changes have reduced the administrative burden for scheme participants and improved the efficiency with which the Clean Energy Regulator administers key aspects of the Renewable Energy Target. The improved REC Registry is helping to maintain the smooth operation and integrity of the Renewable Energy Target.
The response has been positive, as encapsulated by these comments:
The new REC Registry has been a great improvement overall to stakeholders, providing greater integration and processing ability, easy usability and resulting in a more efficient processing of small-scale technology certificate applications for market.
Daniel Sullivan, FormBay Registered Agent under the Small-scale Renewable Energy Scheme
As a major user of the REC registry, EDL is extremely satisfied with the change process and welcomes the new functionality of the redesigned REC registry. The transition to the new registry was seamless, well communicated and ensured EDL was able to continue its processes without interruptions. The new functionality, such as point-in-time summaries, makes it a lot easier for us to reconcile the number of certificates at any given time. Another great improvement was the enhancements to the certificate activity log, which provides us a faster and more convenient way to monitor transfers.
Tim Sprey, Manager Corporate and Commercial Affairs,
Energy Developments Limited (EDL)
Participant under the Large-scale Renewable Energy Target
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.