RECs
Renewable Energy Certificates
We recommend Greenbank to our customers when they are selling their RECs.
What is a REC?
When you install solar power, solar water heating and other renewable energy technologies you are helping to reduce greenhouse gas emissions. This entitles you to create environmental credits called Renewable Energy Certificates or RECs for short. These credits are a commodity and tradeable like shares on the Australian Stock Exchange. Like other commodities the price of RECs is not fixed and varies with supply and demand. One REC equals 1MWh of generation from a renewable source and is part of the Mandatory Renewable Energy Target which is an industry development mechanism created by government in 2001.
Some renewable energy systems include
- Photo-voltaic or solar systems
- wind systems
- solar water heaters
- heat pumps
Greenbank Environmental is the largest independent REC agent and emissions trader in Australia where we register all brands and system models.