If you’ve installed a renewable energy or energy efficient product you may be eligible to receive a payment to help reduce the cost of the installation. The payment works out a bit like a rebate only the amount we provide is not the same for everyone and we don’t work for the government.
How do the payments work?
It’s pretty simple, really:
- Install an approved renewable energy or energy efficient product at your property
- Assign your “certificates”, which are a bit like stock, to Green Energy Trading
- Receive payment for the certificates
The total payment you will receive depends on the specific details of your installation and the certificate price advertised on our website for that activity on the day you submit your claim:
e.g., number of certificates x advertised price = payment
Like in a stock-exchange, the certificate price for the day is determined by supply and demand: too many certificates and the price is low; not enough certificates and the price is high.
Once created, we sell the certificates to other businesses in the energy industry who are required to contribute to a legislated target or face financial penalties.
Green Energy Trading is accredited to create certificates under the Renewable Energy Target (RET).
The RET is designed to help the Commonwealth Government achieve its target of sourcing 20% of energy from renewable sources by the year 2020.
Water and space heating
Our water and space heating activities involve either the installation of a new technology or an appliance using existing technology that has a minimum five star power rating.
Where a new solar water heater has been installed you will be eligible to receive not only STCs but may be able to receive a payment under the Victorian Energy Efficiency Target (VEET).
Victorian residents can also benefit from a VEECs payment by replacing their existing electric or gas space heater with high-efficiency gas ducted heating.
Energy efficient lighting
Certificates for lighting upgrades are available in both Victoria and New South Wales.
Under both the VEET and the NSW Energy Saving Scheme (ESS) certificates can be created for any compliant commercial lighting retrofit using approved products.
Green Energy Trading is also accredited to create certificates for halogen downlight replacements in Victoria under the VEET for both residential and commercial premises.