December 2024
Holiday Closure
Christmas is suddenly around the corner and as per usual Metimur, GHGP and the whole Packleader Group will be shutting down over this period. Our last manned office day is Fri 20th Dec and returning Mon 6th Jan in the New Year.
If anyone is in need of any support on their projects over this break, please reach out as soon as possible to Nicklas and we will make arrangements accordingly. I will sporadically check emails also over the break and respond if urgent.
Nicklas' All Energy Presentation
Here is Nicklas’ All-Energy Slides from the panel discussion on ‘Supercharging the energy efficiency schemes for net zero’ back in October.
In this session, Nicklas presented how the schemes are currently falling short of both it’s intended purpose and volumes, in particular the VEU M&V PBA activity, and gave some proposals on how they can be improved.
Australia Approves New Vehicle-to-Grid (V2G) Standard with Locally Made Bi-Directional EV Charges
Federal Energy Minister Chris Bowen announced at the Sydney EV Auto Show in November that Standards Australia has officially approved a new standard for V2G technology. V2G technology enables electric vehicles (EVs) to both draw power from the grid and send electricity back when needed.
Next step is that EV manufacturers and charging companies will need to register their V2G products with the Clean Energy Council.
V2G can turn cars into income generating battery on wheels, in particular when coupled with home owners existing or expanding Solar PV as revenue for exporting to the grid middle of day is being phased out.
Considering EV batteries are ~5-10 larger than a normal home battery, we are expecting new demand supply incentives for V2G similar to NSW’s recently launched PRC demand certificates for home batteries and VPP.
Key points:
- Energy Flexibility: V2G allows storing solar energy, powering homes, providing backup and exporting energy to the grid.
- V2G 230V AC can either be produced directly from the vehicle with an onboard compliant AC inverter, or it can be converted from DC to AC by an external bi directional charger.
- Charger Costs: Prices are expected to drop from ~$10-15,000 to ~$1,000 with local manufacturing reducing costs further.
- Future Vehicles: Models like the Kia EV9, VW ID.4, MG4 and Polestar 3 that already has V2L capability should have a quicker road to offer full V2G.
Further news on the V2G standard announcement: esdnews.com.au/vehicle-to-grid-charging-gets-regulatory-green-light/
Key Developments in Bidirectional Chargers:
- Wallbox Quasar 2: Wallbox has yet to announce the Quasar 2’s release in Australia, but it’s expected soon.
- RedEarth & Ambibox: RedEarth has partnered with Ambibox to create a three-phase V2X charger, with production set to begin in Queensland for a 2025 release.
- Sigenergy: Sigenergy claims to have Australia’s first compliant bidirectional charger, with its inverter already CEC-approved.
For more details on Red Earth announcement, visit ESD News.
VEU Electricity Emission Factors reduced again from 1 Feb 2025, creating 26% less VEECs from the same savings.
The VEU Electricity Emissions Factors is reduced again from 0.5334 to 0.393 from upgrades completed after 31 January 2025 creating a 26% decrease in electricity VEECs. This impacts all electric to electric upgrades including water heating, space conditioning, lighting, appliance activities, and project-based activities. Note that if you are instead removing a gas unit, for example a commercial boiler and installing an electric heat pump the VEECs will go up slightly from 1 Feb 2025. This is the last Emission Factor reduction announced.
The impact on standard lighting upgrades scenarios can be found in this table (click to zoom in):
AEMC Finalizes Universal Smart Meter Rollout by 2030
The Australian Energy Market Commission (AEMC) has mandated a universal smart meter rollout by 2030, aiming to enhance grid management and customer experience.
Key Changes:
- Improved Grid Management: New meters will monitor real-time data, including power quality and voltage fluctuations, providing better network reliability than current meters.
- Customer Experience: No upfront costs for installation, with clearer energy pricing and real-time consumption data for customers.
- Support for Renewables and EVs: The meters will optimize solar, battery, and EV integration, enabling smarter energy use and potentially reducing costs.
- Real-Time Data Access: Utilities will gain insights into power quality and network conditions, improving efficiency and reducing grid issues.
The rollout, starting in December 2025, will support Australia’s transition to a renewable energy future.
This milestone ensures Australia’s energy system is future-ready, driving the transition to renewables and a sustainable energy market.
Note that Victoria is already at 99.12% take-up of remotely read electricity meters, even if not particularly “smart”. NSW is only at 39%. It is still unclear if existing smart meters will need to become smarter. More here:
For more details, visit the AEMC website.
Certificate spot prices update
Here are the CORE markets spot price graphs from start of the week, with some quick comments on the recent developments:
VIC VEECs spot price has now fully recovered from before the Regulatory Impact Statement for the 2026-27 interim targets were released and spot currently sitting around $109, trending slowly upwards. Due to the forward reduced targets the forward curve is still negative, down to $106.00 for Oct25-Mar26 yesterday.
- NSW ESC spot has unfortunately drifted back further since its quick burst to ~$17 in October and been hovering just above $14, but in last few days jumped back up to $14.60.
- NSW PRC spot has been falling back in recent weeks to ~$2.36 yesterday.
A reminder that we have our filterable table of all the rebate activities we can assist with across the country, from Solar VEECs and Solar VIC to NSW PRC, ESCs and federal STCs and we try to keep it up date as new activities are announced while others expire:
Please let us know if you notice any rebates missing from the table.
Stay Connected! For more information and updates, visit our website or contact us at info@metimur.com.
View our past newsletters here: https://metimurenergy.com.au/news/
Thank you for being a part of the Metimur community. Taking the pain out of certificate creation and maximising returns!
Best Regards,
The Metimur Team