What is an REC?
An REC or Renewable Energy Certificate representes 1 MWh(Mega Watt Hour) of renewable electricity displace by a solar hot water system.
RECs are electronic certificates that are publicly available on an internet database (www.rec-registry.gov.au) Solar hot water systems are rated for their electric displacement over a ten year period.
An average solar hot water system will be assigned 33 RECs = 33 MWh saving over ten years = 3300kWh (kilo watt hour) saving per year.
Every solar hot water model is listed individually within Federal Government Legislation.
Eligibility for RECs are only available to;
- Installations where they replace an existing electric system
- Any new installation
- Reduced RECs are available when an electric-boosted solar replaces an electric-boosted solar.
The more environmentally friendly - the more RECs assigned to a solar water heater.
The value of the REC is determined by the market demand sort of like stocks.
Whomever owns the house when the water heater is installed has the rights to the RECs.
For further information please visit www.orer.gov.au.
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