Each year the Minister for the Environment sets the renewable power percentage (for large-scale generation certificates) and small-scale technology percentage (for small-scale technology certificates).
The renewable power percentage for 2015 was 11.11 per cent. This means that to fully acquit liability in 2015, liable entities were required to surrender 18.9 million large-scale generation certificates.
The renewable power percentage establishes the rate of liability under the Large-scale Renewable Energy Target. It changes each year in proportion to the legislated annual targets as they increase to reach 33 million megawatt hours by 2020. Liable entities multiply their electricity acquisitions, minus any exemptions, by the renewable power percentage to determine how many large-scale certificates they must surrender each year.
The percentage takes into account:
The small-scale technology percentage for 2015 was 11.71 per cent. This means that to fully acquit liability in 2015 liable entities were required to surrender 20.6 million small-scale technology certificates.
The small-scale technology percentage establishes the rate of liability under the Small-scale Renewable Energy Scheme. It changes each year in proportion to the estimated supply of small-scale technology certificates. Liable entities multiply their electricity acquisitions, minus any exemptions by the small-scale technology percentage to determine how many small-scale technology certificates they must surrender each year.
The number of small-scale technology certificates that liable entities must surrender is based on the expected supply of small-scale technology certificates, rather than specified annual targets.
The small-scale technology percentage is calculated based on the:
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.