State and Federal Renewable Energy and Energy Efficiency Schemes 101

Left scratching your head when people talk about LREC, VEU and REES? Let us simply break down all the different state and federal renewable energy and energy efficiency schemes.

wdt_ID Scheme Jurisdiction Description Certificate Certificate Unit Certificate Price Regulator Website
1 Large-Scale Renewable
Energy Target (LRET)
Federal Renewable Energy Large-scale Generation
Certificate (LGC) or LREC
MWh No cap or floor Clean Energy Regulator
2 Small-scale Renewable
Energy Scheme (SRES)
Federal Renewable Energy Small-scale Technology
Certificate (STC) or SREC
MWh Capped at $40 per STC via
the Clearing House, no floor
Clean Energy Regulator
3 NSW Energy Savings
Scheme (ESS)
NSW Only Energy Efficiency Energy Saving Certificate
1 notional MWh of
energy saved
No cap or floor Independent Pricing and Regulatory
Tribunal of NSW (IPART)
4 Victorian Energy Upgrades
Vic Only Energy Efficiency Victorian Energy Efficiency
Certificate (VEEC)
1 tonne of greenhouse gas
emissions reduction (CO2-e)
No cap or floor Dept of Environment, Land,
Water & Planning (DELWP)
5 Energy Efficiency Improvement
Scheme (EEIS)
ACT Only Energy Efficiency N/A N/A N/A ACT Government - Environment,
Planning & Sustainable Development
6 Retailer Energy Efficiency
Scheme (REES)
SA Only Energy Efficiency N/A N/A N/A Essential Services Commission
of South Australia (ESCOSA)