Australia's Move Towards a Clean Energy Future with the Guarantee of Origin Scheme
Key Ideas
  • The Future Made in Australia (Guarantee of Origin) Bill 2024 establishes a voluntary Guarantee of Origin (GO) Scheme to certify low-emission products and renewable electricity.
  • Administered by the Clean Energy Regulator, the scheme includes Product Guarantee of Origin (PGO) Certificates for products and Renewable Electricity Guarantee of Origin (REGO) Certificates for renewable electricity.
  • The GO Scheme will enhance transparency, consumer confidence, and Australia's competitiveness in global markets as it aligns with the world's transition to net-zero emissions.
  • The scheme will work alongside existing initiatives like the Capacity Investment Scheme and will play a key role in determining eligibility for the Hydrogen Production Tax Incentive.
On November 28, 2024, the Australian Federal Government passed the Future Made in Australia (Guarantee of Origin) Bill 2024, introducing the voluntary Guarantee of Origin (GO) Scheme. This legislation marks a significant milestone in Australia's efforts towards a clean energy future. The GO Scheme, to be overseen by the Clean Energy Regulator, will certify low-emission products and renewable electricity through Product Guarantee of Origin (PGO) Certificates and Renewable Electricity Guarantee of Origin (REGO) Certificates respectively. By enhancing transparency and consumer confidence, the scheme aims to boost Australia's competitiveness in global markets amidst the shift towards net-zero emissions. The GO Scheme will complement existing government programs like the Capacity Investment Scheme and will also influence eligibility for the Hydrogen Production Tax Incentive. While the commencement date is yet to be announced, Minister for Climate Change and Energy, Chris Bowen, has indicated a launch in 2025. This development signifies a proactive step by Australia in embracing sustainable energy practices and aligning with international environmental goals.
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