JOINT MEDIA RELEASE WITH HON IAN MACFARLANE MP, MINISTER FOR INDUSTRY AND SCIENCE
The Senate has passed a Renewable Energy Target (RET) that will result in more than 23.5% of Australia’s electricity being derived from renewable sources by 2020.
There will be considerable growth in both small and large scale renewable energy by 2020 and this provides the renewables industry with the certainty it needs.
We’re also protecting industry and jobs by providing a 100% exemption for Emissions Intensive Trade-Exposed industries from costs associated with the RET.
As promised, there will be no change to household solar.
The 33,000 gigawatt hour Renewable Energy Target will not be reviewed until 2020. This will give the renewable energy industry the certainty it needs to grow.
The Clean Energy Regulator will provide an annual statement to Parliament on how the scheme is tracking towards the 2020 target, and any impact the RET is having on electricity prices.
The Renewable Energy Target includes biomass as an eligible form of renewable energy generation. This allows waste that would otherwise be burnt or rot on the floor of the forest to generate power and reduce emissions.
We’re committed to ensuring renewables continue to play an important role in Australia’s energy mix in the future, and the Government’s measures passed by the Parliament will achieve this.