Background on Australia's Renewable Energy Target
The Government has committed to ensuring that 20 per cent of Australia's electricity supply comes from renewable energy sources by 2020.
To deliver on this commitment, the Government is working in cooperation with the states and territories through the Council of Australian Governments (COAG) to implement a single national Renewable Energy Target (RET) scheme which expands the existing Mandatory Renewable Energy Target (MRET) scheme and absorbs existing and proposed state and territory schemes.
The RET scheme will include a legislated target of 45 000 gigawatt-hours in 2020. This is more than 4 times larger than the current MRET.
The RET scheme is a transitional measure that will help prepare the electricity sector to contribute to the significant emissions reductions that will be needed to address climate change. The scheme will be phased out between 2020 and 2030 as the national Emissions Trading Scheme matures.
A scheme design is to be presented for COAG consideration in October 2008.
Legislation will be put in place during 2009.
