Market Update | 24 May

• CER set to announce the proposed nomination for new solar panel and inverter product listing
• Study finds that houses with sustainable features sell at a premium than those without
• Battery program announced under the PDRS and will be live on 01 November
• Victorian RDC Activity Set to Recommence Following 01 July

Clean Energy Regulator (CER) is set to announce the nomination for the new solar panel and inverter product listing body between June and August 2024

The CER is expected to announce the entity for the new solar panel and inverter product listing body between June and August 2024. A rigorous assessment and evaluation of the criteria of the applications continue to ensure that the CER meets the industry’s needs. The proposed nominations and final nominations will be published on the CER website. There will be a transition period to provide an opportunity to successfully transition with updates published through email and the rooftop solar sector reforms page. The Clean Energy Council (CEC) will continue to publish approved solar panel and inverter product lists until the final nomination.

A study found houses with sustainable features sell at a premium than those without

The Domain Sustainability in Property Report has found that an investment in sustainable upgrades such as solar panels, double glazing, heat pumps, and air conditioning, not only saves money in the long term but has highlighted the significant value added to the sale price of properties. It was noted that a sustainable upgrade worth $10,000.00 – $20,000.00 is on average increasing the average market value by $112,000.00.

NSW Government announces upcoming changes to the PDRS Program incentivising batteries

Last week the NSW Government announced upcoming changes to the Peak Demand Reduction Scheme (PDRS) program, due to come into effect in two stages between 01 August and 01 November this year. The highly anticipated Battery activity is included within this change, allowing an upfront discount of an estimated $1600-2400 to be passed onto consumers when a battery is installed, and an additional estimated $250-400 when the battery is connected to a Virtual Power Plant (VPP).  A summary of new activities, existing activity changes, activity removals, and future activities can be found here.

RDC Activity Set to Recommence Following 01 July

Following the application of a 0.00 multiplier to the activity in mid-2022, the VEU is set to release the updated RDC Activity Regulations on the 1st of July this year. Products will be required to be approved following the release of the new regulations for quality assurance purposes. There is market speculation that the activity may boost the VEEC market supply despite the stricter requirements. This speculation comes as a new wave of efficient fridges and freezers has emerged over the past 24 months.

At Ecovantage, we consistently analyse market activity, policy changes, consultation releases, and creation rates in conjunction with wider landscape activity. This allows us to keep our clients at the forefront of all relevant changes, and to leverage the advantage that this presents. Thank you for your continued support, and please reach out if you have any general or project-specific questions.