State based energy efficiency schemes

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1 State based energy efficiency schemes Sydney, Friday 25 July am 10.30am Presented by Maaike Gobel M Policy Comm & Org, MA (Eur Studies) Business Development Manager

2 Setting the scene Contraction of the solar market; shift from residential to commercial solar Energy efficiency schemes offer financial incentives to energy consumers when they upgrade their systems Business opportunity for solar installers to offer more than just solar; first reduce the demand through implementing energy efficient solutions before shifting the generation 2

3 Green Energy Trading Green Energy Trading is one of Australia's largest leading environmental agents. We aim to increase the accessibility of clean energy options. We offer: Access to a range of incentives Reduced compliance risk Reduced price risk Independence Market insights Education and training support Flexibility Personalised service Experience NEW: Finance options Online certificate creation

4 Green Energy Trading

5 Falling energy demand Figure 1. Scheduled demand on a 6-monthly basis from 2009 to December 2013 Consumption in the National Electricity Market (excludes WA and NT) for 2013 was 2.5% lower than 2012 (3.6% in NSW) Of this 2.5% reduction nationally, renewable energy and energy efficiency schemes contributed 41% Source: Green Energy Markets - 5

6 Existing state based EE schemes EE schemes exist in 4 state/territories in Australia Policy measure that creates the greatest support for energy efficiency activities supporting activities in households and businesses 20 EE schemes currently operate globally - certificate style schemes are in place in the UK, France, Belgium, Denmark, India, Italy, Poland and some states of the US. There are also a number of other countries/states that have implemented other forms of mandatory energy efficiency obligations on energy retailers. 6

7 EE Schemes in Australia Scheme Started Type Coverage Target (current year) Victorian Energy Efficiency Target Scheme NSW Energy Saving Scheme SA Residential Energy Efficiency Scheme 1 Jan 2009 Certificate based Residential and business, electricity and gas 1 July 2009 Certificate based Residential and business, electricity only 1 Jan 2009 Direct obligation Residential only, electricity and gas 5.4 million 2.3 million 0.34 million tonnes ACT Energy Efficiency Implementation Scheme 1 Jan 2013 Direct obligation Residential and business, electricity only 14% of electricity sales 150 Agents accredited under NSW/Vic schemes More than 3,000 people directly employed More than 2500 GWh electricity savings per annum More than 250 MW of peak summer demand reduction Source: Energy Efficiency Certificate Creators Association 7

8 Aims of the NSW Energy Saving Scheme (ESS) create a financial incentive to reduce electricity consumption by encouraging energy saving activities reduce the cost of, and the need for, additional energy generation, transmission and distribution infrastructure reduce greenhouse gas emissions drive additional EE investments (i.e. excluding required upgrades under other legislation such as BCA Section J6 and BASIX) voluntary participation 8

9 How does the ESS work? Demand created Energy retailers are required to surrender EE certificates to achieve an annual target Energy savings EE activities designed to reduce energy consumption are eligible to create certificates Certificate creation Certificates can only be created by an Accredited Certificate Provider (ACP) Compliance Vigorous compliance requirements ensure robustness of activity and energy savings 9

10 Interested Parties Surrender ESCs to meet target On-sale of certificates Sale proceeds Registration and processing Certificate issue Agreed Certificate Value Enabling documentation Assignment of right to create certificates EE project implementation (directly or through sub-contractors) Payment (partly covered by EE certificates value) 10

11 ESS / VEET scheme comparison Economic sectoral coverage Victorian Energy Efficiency Target Residential, Commercial and industrial (since Dec 2011) Gas & Electricity retailers liable Energy Saving Scheme NSW Residential, commercial and industrial Electricity retailers liable Administrator Essential Services Commission (ESC) Independent Pricing and Regulatory Tribunal (IPART) Certificate name 11 Victorian Energy Efficiency Certificate (VEEC) Energy Saving Certificate (ESC) Certificate creator Accredited Person (AP) Accredited Certificate Provider (ACP) Scheme commenced January 2009 July 2009 Scheme duration (or until a national scheme) 2014 Target 5.4 million certificates = 5.4 million tonnes of CO2 equivalent Cost to register a certificate Final date for creation on previous years vintage $1.00 $0.70 ~2.6 million certificates (4% of annual liable electricity sales) 30 June (30 April for surrender) 30 June (30 April for surrender) 2013 penalty rate $43.51 ($62.17 after tax) $27.07 ($36.36 after tax)

12 It is a material market - value of $120 to $150m pa Combined target of 8m certificates Victorian target set every 3 years

13 ESS / VEET case study office Installation of 90 x 40W LED panels, replacing 347 x 18W T8 fluorescent tubes with magnetic ballast in an office with air-conditioning, motion sensors; and 8 x 8W LED MR16s replacing 8 x 50W halogen downlights with magnetic transformers, no control devices; operating hours: 3000hrs/year Cost to install = $12,800 (including product, installation and recycling costs) Electricity Saving deemed by regulator for the life of the product (30,000 hours) NSW VIC (metro) 208 MWh 147 MWh Number of certificates created 220 ESCs 138 VEECs Today s price per certificate $7.50 $13.50 Total certificate payment $1,650 $1,863 (14.5% of total cost) Total project cost after certificate reduction $11,150 $10,937 Electricity savings/year (based on 23 c/kwh) $4,784 $3,381 Original payback period (based on 23 c/kwh) 2 years & 8 months Payback period with certificate value 2 years & 4 months 13 3 years & 9 months 3 years & 3 months

14 ESS / VEET case study warehouse Installation of 19 x 240W Linear T5 Highbays, replacing 22 x 400W mercury vapour highbays with magnetic ballast in a storage warehouse without airconditioning, installing occupancy & daylight sensors; operating hours 24/7: claimed hours VIC 3000hrs/year, NSW 5000hrs/year Cost to install = $ 15,639 (including product, installation and recycling costs) NSW VIC (metro) Electricity Saving deemed by regulator for the life of the product (30,000 hours) MWh 198 MWh Number of certificates created 326 ESCs 187 VEECs Today s price per certificate $7.50 $13.50 Total certificate payment $2,445 $2,525 Total project cost after certificate reduction $13,194 $13,115 Electricity savings/year (based on 23 c/kwh and 24/7 $9,845 $9,845 operation) Original payback period (based on 23 c/kwh) 1 year & 7 months 1 year & 7 months Payback period with certificate value 1 year & 4 months 1 year & 4 months

15 Solar PV finance opportunities, bundled with EE upgrades What makes third party solar PV financing a viable sales option: Builds competition and supports growth of the solar PV market Replaces the previous generous incentives provided by FiTs and solar multipliers Mitigates rising electricity costs, which was 72% increase Australia wide between (Australian Bureau of Statistics) Falling PV system prices (by approx. 45% reduction per year) means systems and finance repayments are more affordable Presents a business development opportunity during a period of significant market change Bundle your solar PV installation with an EE upgrade finance available for both

16 Conclusion EE schemes form a great opportunity to diversify your business and combine solar PV with EE upgrades State based EE schemes will be the key policy measures supporting growth of EE industry Potential of integration Emission Reduction Fund with the existing state schemes to be addressed in Bruce Easton s presentation 16

17 Presented by Maaike Gobel M Policy Comm & Org, MA (Eur Studies) Business Development Manager T or

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