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Government announces review of the Renewable Energy Target (RET)

on Monday, 17 February 2014.

The Renewable Energy Target (RET) was originally launched by the Government in 2001 with a target of 9,500 GWh of electricity generation from renewable energy by 2020, and this was revised upwards to 45,000 GWh (or 20%) in 2009. Then in 2011 the RET was split into large scale (LRET) and small scale (SRES) components, and the target for the LRET adjusted to 41,000 GWh, with no target set for the SRES. Although the current Government has repeatedly voiced its support for the RET, it has appointed a review panel to report on the "operation, costs, and benefits" of the scheme by the middle of this year. The RET has been widely credited with growing both large scale and household renewable energy generation over the thirteen years of its existence, and any reduction in targets is expected to impact large scale renewable energy projects in the pipeline in particular. If you believe the review of the RET is likely to impact your business and you want to know more, contact us at CCR.