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Impact Of Phantom RECs Underestimated
Canberra, Australia (SPX) Feb 26, 2009 The contribution small-scale renewable energy sources, such as roof-top solar, make to reducing Australia's greenhouse gas emissions is far greater than expected. Figures in a submission to the Department of Climate Change draft Renewable Energy Target (RET) legislation committee, show almost five per cent of the Renewable Energy Certificates generated in 2008 came from small scale solar and wind. "If the federal government's Solar Credits Scheme had been in effect during 2008, there could have been up to 1.47 million 'phantom' RECs in the system," says Damien Moyse, Energy Advocate for the ATA. "This is equivalent to 15.5% less clean energy production in Australia." The government's new Solar Credits Scheme, due to replace the Solar Rebate in July, will supply solar-home with five times the RECs normally required under the Rewable Energy Target, resulting in 4 out of the 5 RECs not representing real clean energy generation. Solar-homes will have to sell their phantom RECs to electricity retailers in order to recoup up to $7500 on the upfront cost of their system. Mr Moyse says solar-homes will be selling off five-times the RECs despite not producing 5 times the clean energy, effectively canceling out their climate-friendly solar electricity generation. "These phantom RECs will be helping electricity retailers achieve their Renewable Energy Targets (RET) on paper, but not in real renewable electricity generation." "These figures show that the phantom RECs have the potential to significantly reduce renewable energy generation in Australia," says Mr Moyse. Related Links ATA All About Solar Energy at SolarDaily.com
Japan may force utilities to buy surplus domestic solar power
Tokyo (AFP) Feb 24, 2009Japan plans to soon require electricity companies to buy surplus power generated by household solar panels at about twice the current price, a government official said Tuesday. |
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