A discussion paper on enhancing Australia’s Renewable Energy Target was released earlier today by Minister for Climate Change, Energy Efficiency and Water, Senator Penny Wong.
The discussion paper puts forward proposed implementation arrangements for the enhanced Renewable Energy Target, as announced on 26 February 2010.
From January 2011, the existing scheme will be separated into two parts – the Small-scale Renewable Energy Scheme (SRES) and the Large-scale Renewable Energy Target (LRET). The Government says this will provide greater certainty for large-scale renewable energy developers as well as households wanting to take action to reduce domestic greenhouse gas emissions through installing residential solar power systems.
One of the major issues to be addressed under the SRES is the recent decrease in value of Renewable Energy Certificates, upon which the Solar Credits rebate is based. Values are currently dictated by market forces, but under the SRES a fixed price of $40 per Renewable Energy Certificate (REC) will be implemented.
The discussion paper can be downloaded here:
Discussion paper – Enhancing the Renewable Energy Target, March 2010 (PDF 715 KB)
The Government is inviting public comment on the discussion paper and all submissions are due close of business 14 April 2010.
Respondents should utilise the Submission Template provided below to address the questions raised in the discussion paper.
Submission template: Discussion paper – Enhancing the Renewable Energy Target (DOC 24 KB)
Submissions should be forwarded via email to the address below, preferably in Microsoft Word or other text based formats. Submissions may also be sent to the postal address below to arrive by the due date.
Email: RET@climatechange.gov.au
Renewable Energy Target section
Department of Climate Change and Energy Efficiency
GPO Box 854
CANBERRA ACT 2601
For households not wanting to wait until the SRES commences next year, solar solutions provider Energy Matters recently announced their “Early SRES” initiative whereby people purchasing solar electric systems for home or business will be guaranteed the $40 per REC.
