Large Rebate Scheme
large scale renewable energy schemes
The Large-scale Renewable Energy Target (LRET) incentivises investment in renewable energy power stations, such as wind and solar farms, or hydro-electric power stations, by legislating demand for large-scale generation certificates (LGCs).
- Solar Systems above 100kW
- The LGC’s creates a financial incentive for large scale renewable energy installations such as Solar PV Systems, above 100kW. After the system has undergone an accreditation process the owners can generate Large-Scale Generation Certificates (LGCs). Receive a payment for power generation.
- One LGC can be created for every megawatt-hour of electricity generated. Like STCs, LGCs can be purchased, sold and traded on an open market with their value fluctuating according to supply and demand.
- The key difference between STCs and LGCs is that LGCs are produced on an on-going basis (once the system has been installed, is producing electricity, and has undergone the accreditation process) as opposed to STCs which are created upfront.
- For example, a 200kW system would produce an average solar output of 306,000kWh per annum, or 306 MWh. This means they would produce 306 LGCS
- LGCs currently trade for around $38.00, which means at the current value, a 200kW system would receive around 306 x $39.00 = $11,628.00 per year in government incentives. These are available until 2030 (10 years) LGC’s can be claimed monthly in arrears
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