2017 renewable power percentage and small-scale technology percentage published
The 2017 small-scale technology percentage is 7.01%.
The Annual STP and RRP on the has been release today for the 2017 compliance year;
The STP (STCS) is 7.01%. This equates to a STCS target of approx 12.4m STCs for the year. The figure was well below the non-binding estimate of the 2017 target provided last year (which was 9.02% or 15.96m STCs).
The 2017 STP announced today requires a weekly submission figure of 250k per week, a figure well below the weekly figures experienced since November last year (which average 370k per week). If volunes continue at this level we will be looking at an over supply of approx 6 million STCs. As a result the stable STC price experienced over the past couple of years is expected to soften towards the second half of the year.
Below Source: Clean Energy Regulator
The Clean Energy Regulator today published the 2017 renewable power percentage and small-scale technology percentage.
- The 2017 renewable power percentage is 14.22%.
- The 2017 small-scale technology percentage is 7.01%.
About the renewable power percentage and small-scale technology percentage
Under the Renewable Energy Target, liable entities (generally electricity retailers) must source large-scale generation certificates and small-scale technology certificates to meet their renewable energy obligations.
The number of certificates each liable entity needs to source and then surrender to us each year is in proportion to the amount of electricity they acquire. To calculate the exact number of certificates they need to surrender to us to meet their obligations, liable entities multiply the amount of electricity they acquire in the calendar year (minus any exemption certificates) by the percentages.
For the Large-scale Renewable Energy Target, the annual target is met through the surrender of large-scale generation certificates set by the renewable power percentage. The annual target contributes to reaching the 2020 target of 33 000 gigawatt hours of renewable electricity.
Unlike the legislated large-scale target, the Small-scale Renewable Energy Scheme balances the supply of small-scale technology certificates by setting an equivalent demand each year. This means liable entities will be required to surrender to us the same number of certificates in a year as the estimated number of certificates that will be created in that year.
The Clean Energy Regulator has also published a non-binding estimate forecasting the small-scale technology percentage for the next two years. These estimates indicate what the percentage could be in future years, allowing liable entities time to budget and plan their certificate acquisition strategies each year. The 2018 and 2019 non-binding small scale-technology percentages are 8.06% and 7.52% respectively.