The Australian Government is seeking views from stakeholders on a clean energy Guarantee of Origin (GO) scheme to foster the global and domestic markets needed to transform Australia into a renewable energy superpower.
The voluntary Guarantee of Origin (GO) scheme – detailed in two policy papers open for feedback – would provide an enduring certificate mechanism for renewable electricity, and a tracking and verification for emissions associated with hydrogen and other products made in Australia.
The scheme would build on the robust certificate framework under the Renewable Energy Target and complement the government’s Powering Australia plan.
The scheme would provide certainty to underpin investment in renewable electricity generation and support Australia’s energy transformation, Assistant Minister for Climate Change and Energy Jenny McAllister said.
“Australia has an ambition to become a renewable energy superpower and our ability to track and verify the renewable energy input into clean products is crucial to achieving this,” she said.
“It is important that we establish transparent practices that will enable producers to make credible low emissions claims about their products, unlocking opportunities for trade, decarbonisation and investment.”
“Australia can be a global leader in hydrogen and renewable energy exports and our trading partners need to have confidence in these clean energy products.”
Developed in close collaboration with Australia’s international energy partners, the proposed scheme would initially prioritise hydrogen and renewable electricity, and could expand to cover metals, biofuels and other products in the future.
The 2022-23 Budget provided A$2.2 million ($1.4 million) for development and consultation on design and draft legislation the scheme.
Following consultation on the proposed policy design, the government would develop legislation to implement the GO scheme for commencement in 2024.