Example REC and Solar Credit Calculation
A Perth homeowner purchases a 4kW PV system for his home and assigns the right to the renewable energy certificates (RECs) to the retailer. The REC rate at 1 July 2011, the date the PV was installed, was $20. The retailer sells the RECs for $20 each.
1 Solar Credits Calculation
Zone 3 rating Perth x Maximum System Size for Solar Credits x Deeming Period x solar credit scheme multiplier = REC entitlement
1.382 x 1.5 x 15 x 3= 93.285
2 RECs Calculation
Zone 3 rating Perth x System Size REC calculated on x Deeming Period = REC entitlement
1.382 x (4 - 1.5) x 15 = 38.882
3 The REC Entitlement
Add the two REC entitlements and round down to a whole number
93.285 + 38.882 = 132.167 rounded down to 132
4 Calculate the REC Value ($)
REC entitlement x REC rate at date of installation (if assigned)
132 x $20 = $2,640 (of which $1,860 related to the first 1.5kW and only $780 related to the remaining 2.5kW of capacity)
