About the RET
Around 80 per cent of Australians rely on the burning of coal for their electricity needs. Burning coal and other fossil fuels for electricity generation accounts for more than one third of Australia’s current greenhouse gas emissions.
As such, enabling the transition to a low carbon economy will require a significant transformation of the electricity sector. Renewable energy sources such as wind, solar, geothermal heat and wave power will have a key role in moving Australia to the clean economy of the future. Australia has vast potential in these areas.
The 20 per cent by 2020 target is challenging and a significant increase on the previous MRET. Due to the large increase in the target, the expanded national RET scheme is expected to accelerate the development and deployment of a broad range of renewable energy technologies including solar, biomass and geothermal energy.
Since January 2011, the existing RET scheme has operated in two parts—the Small scale Renewable Energy Scheme (SRES) and the Large scale Renewable Energy Target (LRET). Combined, the new LRET and SRES are expected to deliver more renewable energy than the previous 45,000 gigawatt-hour target in 2020.
The RET scheme provides support to households and businesses to install small-scale solar, wind and hydro electricity systems through Solar Credits.
Households and businesses can also receive support under the RET when they install a solar hot water system. Most installers will provide a discount based on the estimated output of the solar hot water system.
Other support for renewables
The government has a range of rebates available to householders wishing to make their homes greener.
There are also grants and funding for businesses and communities.
Office of the Renewable Energy Regulator
The Office of the Renewable Energy Regulator oversees the implementation of the RET scheme.
The Department of Climate Change and Energy Efficiency handles policy issues on the legislation.
For more information on the operation of the RET, including fact sheets, registration and accreditation forms, visit the Office of the Renewable Energy Regulator website.