The Australian Government’s Renewable Energy Target (RET) uses financial incentives to reduce greenhouse gas emissions and increase the generation of renewable energy.
RET encourages small businesses to install solar water heaters, heat pumps, small-scale solar panels (less than 100kW), as well as wind and hydro systems. These systems create small-scale technology certificates (STCs) for every megawatt hour of power they generate or offset. These STCs can then be sold to RET-liable entities (mainly electricity retailers), who must surrender them to the Clean Energy Regulator to demonstrate their compliance with the RET scheme’s annual targets. The sale of the STCs offsets the cost of installing the new systems for the small business.
To find out more about the Renewable Energy Target (RET) visit the Clean Energy Regulator website.
Victorian Chamber Sustainability Services’ energy consultants can help you access these incentives offered as part of RET.