What are Australian Carbon Credit Units?
Australian Carbon Credit Units (ACCUs) are an Australian based carbon credit that can be created as a result of activities that avoid or remove greenhouse gas emissions.
Each ACCU is representative of one tonne of carbon dioxide having been removed, or avoided, by the eligible activity.
How to Generate ACCUs.
For an emissions related project, ACCUs are generated through a measurement and verification process, and created annually for a 7 year period. These certificates involve a complex methodology, and therefore become viable with large-scale activities. Energy-based ACCUs use a technology-agnostic approach, meaning that provided an upgrade meets viability it will likely be eligible under the program. These include:
- Lighting Upgrades
- HVAC Upgrades
- Fuel Switching
- Waste to Energy
- Biomethane Creation
- BMS Equipment
- VSD Installation
When these technologies are implemented, an Accredited Certificate Provider (ACP), such as Ecovantage, undertakes project approvals, compliance adherence and carbon credit creation for the project.
*ACCUs for Solar are subject to spot pricing to determine viability.
What Organisations do with ACCUs.
Similar to Renewable Energy Certificates (RECs), once created, ACCUs can be surrendered as an offset or traded. If traded, the revenue is often used to offset the cost of the energy efficiency project.
Organisations that have carbon neutrality, net zero, or baseline emission targets, can procure and surrender ACCUs as carbon offsets. This mimics the offset process used with Large-Scale Generation Certificates (LGCs), however when surrendered, ACCUs may be used to offset any scope of emissions.
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Certificate Services Department.
At Ecovantage, we consistently analyse market activity, creation metrics, policy changes, and consultation releases 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. Please reach out if you have any project-specific questions.
The ACCU Market.
As Australia’s largest Accredited Certificate Provider (ACP), Ecovantage maintains strong market analytics to keep our partners and clients on top of the certificate markets.
Below is the current ACCU weekly spot price tracking, and our latest ACCU market update.
Spot Prices | 24 November 2023
- Spot $30.90 (-$0.10)
- HIR $34.25 (+$0.25)
- HIR + NT $37.00 (+$0.00)
- SB $39.00 (+$0.00)
- SB + CB $53.05 (+$0.00)
- Cumulative Weekly Volatility 0.11%
Market Update | 24 November 2023
This week was a quiet one on the ACCU front, with moderate volumes trading through the generic and HIR spot markets. The cumulative volatility was 0.11%, which is on par with recent low activity weeks on the market. While the generic spot declined by $0.10, the HIR spot rose by $0.25.
EE (Energy Efficiency) | HIR (Human Induced Regeneration) | NT (Native Title) | SB (Savanna Burning) | CB (Co-Benefits) | ICB (Indigenous Co-Benefits)
Pricing and summary is accurate as of time of publishing. Ecovantage is not liable for any errors or changes in the figures provided.
Receive weekly market updates and up-to-date spot prices delivered to your inbox every Friday.
The ACCU Process.
Australian Certificate Attributes and Recognition
|Certificate||Classification||Representative Of||Attribute Recognised by External Programs?||Purpose|
|ACCU||Carbon Credit||1 Tonne of CO2-e||Carbon||Recognise and Measure Carbon Abatement|
|LGC||Renewable Energy Certificate||1 MWh of Renewable Generation||Renewable Energy||Recognise and Measure Renewable Generation|
|STC||White Certificate||1 Calculated MWh of Renewable Generation||None||Create a Financial Incentive for Small-Scale Renewable Generation|
|VEEC||White Certificate||1 Calculated Tonne of CO2-e||None||Create a Financial Incentive for Energy Efficiency Upgrades|
|ESC||White Certificate||1 Nominal MWh||None||Create a Financial Incentive for Energy Efficiency Upgrades|
|PRC||White Certificate||0.1kW of Peak Demand Reduced||None||Create a Financial Incentive for Peak Demand Reduction|
|REPS||White Certificate||1 Calculated GJ||None||Create a Financial Incentive for Energy Efficiency Upgrades|