Act now: Safeguard Mechanism EID applications due by 30 April 2024
Many facilities are likely to face material financial implications if they don't apply for an emissions intensity determination (EID) for the 2023-24 financial year. Applications must be submitted by 30 April 2024.
Record rooftop solar in the September quarter
Australians are taking control of their energy bills and increasingly electrifying through rooftop solar and energy efficient technology according to the latest Quarterly Carbon Market Report (QCMR) for Q3 2023.
The Clean Energy Regulator (CER) Chair David Parker said a record third quarter capacity of 813 megawatts (MW) of rooftop solar PV was installed and the average system size increased to 9.3 kilowatts (kW).
Safeguard Mechanism – Emissions-intensity determination application guidance and audit report template now available
The
reformed Safeguard Mechanism commenced on 1 July 2023. It applies to Safeguard facilities reporting for financial years on or after 1 July 2023. Under the reforms, existing facilities may apply for an emissions-intensity determination (EID).
Achievements and challenges in Australia’s renewable energy transition
The Clean Energy Regulator's (CER) second Quarterly Carbon Market Report (QCMR) for 2023 shows continued strong growth in consumer-led small-scale renewables but it was a quiet first half of the year for new large-scale investment commitments.
Households and businesses continue to invest in energy efficiency technology. Rooftop solar is tracking to add more than 3 GW of new installed capacity to the grid in 2023, with 1.4 GW of capacity from almost 160,000 systems already installed this year.
Independent reviewer appointed for HIR gateway checks
The Clean Energy Regulator (CER) has engaged Associate Professor (Honorary) Cris Brack from the Australian National University to commence a review of gateway checks for human-induced regeneration (HIR) projects under the Australian Carbon Credit Unit Scheme (ACCU Scheme).
It is a legislative requirement that all HIR projects must undergo regular gateway checks to demonstrate that only land that is progressing towards forest cover is being issued ACCUs.
Safeguard Mechanism – Apply for a multi-year monitoring period by 15 November
Under the reformed Safeguard Mechanism, facilities with excess emissions in the 2022-23 reporting year may be eligible for a multi-year monitoring period (MYMP) of up to five years.