The Australian government is seeking feedback on the new Guarantee of Origin (GO) scheme that is designed to track and verify emissions associated with renewable electricity, hydrogen, green metals and other clean energy commodities.
Introduced with the Future Made in Australia policy that passed parliament late last year, the GO scheme is to provide a mechanism by which generators certify renewable electricity production and for the creation of certificates that contain information about the attributes of that renewable electricity and clean products.
Federal Assistant Energy Minister Josh Wilson said the GO scheme will play a key role in Australia’s transition to a clean energy economy, providing certainties about low-emissions products and spurring investment in clean energy industries.
Wilson said the “high-integrity certificates” will help decarbonise the Australian economy by encouraging sellers to reduce carbon intensity and will give producers a competitive advantage in new domestic and global markets.
“The GO scheme is about building Australia’s future as a renewable energy superpower,” he said. “It will provide accountability for new products like green hydrogen and low-carbon liquid fuels.”
Wilson said the release of the first exposure draft of the supporting rules “gives industry groups, businesses and renewable energy producers the opportunity to help shape the laws and ensure they work well for everyone.”
The GO scheme will establish and administer the Product Guarantee of Origin (PGO) and the Renewable Electricity Guarantee of Origin (REGO) certification streams.
Under the PGO certificate stream, digital certificates would be issued to allow producers, exporters and users to prove where a product was made, and the emissions associated with its production, transport and storage. For renewable hydrogen, which will be the first product included before it is expanded to include other commodities such as green metals and low-carbon liquid fuels, the PGO certification is also the basis on which claims will be made for the new Hydrogen Production Tax Incentive.
The REGO certificates would provide information on when, where and how renewable energy was produced. The stream is designed to operate alongside the Renewable Energy Target (RET) before replacing its certification element from 1 January 2031.
The stream would also enable certification of electricity dispatched from storage assets and electricity for international export. It would also allow for ‘below-baseline generation’ certification of generation from renewable energy facilities regardless of their age. The certificates would be able to be bought and sold, with certificate demand and value to be market-driven by voluntary purchases.
The federal government is now calling for feedback on rules regarding registration for the GO scheme and scheme profiles, certification of products, and registration of renewable electricity generation facilities.
The consultation period will be open for comment until 27 March 2025.
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