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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_IDSchemeJurisdictionDescriptionCertificateCertificate UnitCertificate PriceRegulatorWebsite
1Large-Scale Renewable
Energy Target (LRET)
FederalRenewable EnergyLarge-scale Generation
Certificate (LGC) or LREC
MWhNo cap or floorClean Energy Regulator
(CER)
http://www.cleanenergyregulator.gov.au/RET/Pages/default.aspx
2Small-scale Renewable
Energy Scheme (SRES)
FederalRenewable EnergySmall-scale Technology
Certificate (STC) or SREC
MWhCapped at $40 per STC via
the Clearing House, no floor
Clean Energy Regulator
(CER)
http://www.cleanenergyregulator.gov.au/RET/Pages/default.aspx
3NSW Energy Savings
Scheme (ESS)
NSW OnlyEnergy EfficiencyEnergy Saving Certificate
(ESC)
1 notional MWh of
energy saved
No cap or floorIndependent Pricing and Regulatory
Tribunal of NSW (IPART)
https://www.ess.nsw.gov.au/Home
4Victorian Energy Upgrades
(VEU)
Vic OnlyEnergy EfficiencyVictorian Energy Efficiency
Certificate (VEEC)
1 tonne of greenhouse gas
emissions reduction (CO2-e)
No cap or floorDept of Environment, Land,
Water & Planning (DELWP)
https://www.energy.vic.gov.au/energy-efficiency/victorian-energy-upgrades
5Energy Efficiency Improvement
Scheme (EEIS)
ACT OnlyEnergy EfficiencyN/AN/AN/AACT Government - Environment,
Planning & Sustainable Development
https://www.environment.act.gov.au/energy/smarter-use-of-energy/energy-efficiency-improvement-scheme
6Retailer Energy Efficiency
Scheme (REES)
SA OnlyEnergy EfficiencyN/AN/AN/AEssential Services Commission
of South Australia (ESCOSA)
https://www.escosa.sa.gov.au/industry/rees/overview