Market Update | 11 September 2026

• ICC Sydney to house Southern Hemisphere’s largest CBD solar farm
• HPWH GEMS Exposure Draft released

International Convention Centre set for 2MW Solar Farm.

The International Convention Centre (ICC) Sydney has announced a major upgrade to its rooftop infrastructure, positioning it as the largest central business district (CBD) solar farm in the Southern Hemisphere.

Included in the announcement is an outline of plans to replace its original 520 kW system installed in 2016 with a modern ~2 MW urban solar array across 18,400 m². Newer, lighter, and more efficient modules allow expansion onto previously unviable roof sections.

The 4,500-panel installation is projected to generate 2.6 GWh annually (enough to power 300–400 households), enabling the ICC to meet its 100% renewable electricity target alongside existing power purchasing agreements.

This project highlights the potential for commercial retrofit projects eligible for STC incentives under the upcoming expansion of the Federal Government’s Small-Scale Renewable Energy Scheme (SRES) rebates for installations up to 1 MW (slated for introduction, 1 October 2026).

For those interested in understanding more about how they can make the most of the upcoming expansion, please contact Ecovantage’s Commercial Services Team.

Heat Pump Water Heater Exposure Draft Released.

The exposure draft of the Greenhouse and Energy Minimum Standards (Heat Pump Water Heaters) Determination 2026 has been released, aiming to establish a national regulatory framework to raise energy performance and compliance standards across Australia’s rapidly expanding heat pump market.

Key points highlighted in the draft are;

• • Intended scope is air-source heat pump water heaters (HPWH) designed for residential and light commercial water heating applications sold or imported into Australia.

  • Minimum Energy Performance Standards (MEPS) – aims to introduce mandatory baseline efficiency thresholds to phase out underperforming units, driving market alignment towards high-efficiency technologies.

  • Identifies a need to enforce compliance with revised testing methods (referencing AS/NZS 5125.1 Appendix H and AS/NZS 4234) to establish transparent, repeatable performance metrics across real-world climate zones.

  • Mandatory energy rating labels will be introduced to facilitate clearer consumer comparison and support informed procurement decisions.

Public feedback on the draft closes on 5 October 2026, setting the stage for formal gazettal and operational enforcement ahead of full transition deadlines.

To read more on this, please click here.

Weekly Market Update | 7 – 11 September 2026

Large-Scale Generation Certificates (LGCs)

Last week saw a late-week LGC rally, following the release of the federal government’s policy announcement that data centres would be required to purchase offsets for any non-renewable consumption. This appeared to firm up short-term demand, driving buying appetite and an upswing in prices.

 

However, this momentum failed to sustain itself through early-week trading, as Monday’s spot opening at $8.50 fell away, as news broke that the policy would not apply to projects already under construction.

 

Encouragingly, buying resumed on Thursday, seeing prices return above the $8.00 level to close at $8.10.

Victorian Energy Efficiency Certificates (VEECs)

VEEC prices surged this week to close at the $86.50 mark, representing the spot market’s highest point since mid-July. This comes despite strong monthly creation volumes, with over 192,000 VEECs created since the start of September.

Strong buying activity appears to have been largely driven by upcoming changes to the Air Conditioning activity inching closer, along with another two more Accredited Persons (APs) entered liquidation.

Energy Saving Certificates (ESCs)

ESCs strengthened this week across moderate liquidity with the $30.00 level once again in full view after the previous fortnight’s decline.

After opening the week at $28.75, prices steadily increased throughout the week to close at $29.25.

Weekly registration volumes have ground to a halt at just over 6,000 certificates, as the industry continues to struggle to gain momentum with any of the existing avenues for certificate creation.

Peak Reduction Certificates (PRCs)

The PRC market moved sideways throughout the week to close where it opened at $3.35. With the Commercial BESS activities now in play, planning approvals have emerged as a key point of discussion amidst delays.

The Ecovantage team continues to maintain open dialogue with both the regulator and the department on areas of uncertainty, so we encourage anyone seeking guidance to contact our Commercial Services team today.

Australian Carbon Credit Units (ACCUs)

The ACCU spot market experienced an initial softening this week, before a steep decline on Thursday seeing prices retreating from a Monday high of $38.80 to find a steady floor around the $38.20–$38.40 range.

Thursday’s sharp sell-off was where liquidity peaked, highlighted by a flurry of Generic (No AD) parcels ranging between 10k and 100k.

With the ACCU Scheme Review set for release in the coming months, traders are looking forward to a revitalisation of the scheme.

Small-Scale Technology Certificates (STCs)

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.