Are we there yet? Nearly. The battle-weary participants of the Great Renewable Energy Target Review Rumble of 2014/15 may soon be able to rest.
The Abbott Government has decided to back down on its insistence of reviews of the RET every two years – an issue that was the most recent deal breaker for Labor and the industry.
Clean Energy Council Chief Executive Kane Thornton said this signified the removal of the final major stumbling block for the renewable energy industry.
“I’m confident that a final agreement can now be negotiated which will deliver the necessary bipartisan support for the RET, restoring stability to the policy and allowing the industry to meet the revised target,” he said.
“It has been a tough 15 months, but this development will be a huge weight off the shoulders of the 20,000 people working in the industry. It will also help to unlock Australia’s massive renewable energy potential.
This is how the revamped Renewable Energy Target will look (major points):
- Large Scale Renewable Energy Target (LRET) of 33,00GWh by 2020
- Small scale solar scheme (SRET) to remain as is
- Full exemption for emissions intensive trade industries
- End of two-yearly reviews of the Renewable Energy Target
A final thorny issue is a proposal to include native forest wood waste in the RET, which the CEC opposes unless the waste has been verified as coming from sustainably managed forests. Others may feel even that is going too far and that native forest wood waste should not be included at all.
However, the CEC and Labor are claiming victory overall – if somewhat bittersweet – with the latter still scathing of the Government’s actions that pretty much brought Australia’s large scale renewables industry to its knees.
“The uncertainty Tony Abbott created by appointing Dick Warbuton to review renewable energy more than 18 months ago has cost billions in investment and sent Australian jobs overseas,” said Labor’s environment spokesman, Mark Butler.
“The renewable energy sector simply can’t afford for that to happen again.”
Mr. Butler says if elected to office, Labor will boost the 2020 RET based on advice from stakeholders in the industry and finance sectors.
“We firmly believe Australia should be at the forefront of renewable energy, not falling further behind,” he said. “Renewable energy has a bright future in Australia under Labor.”
Australian Solar Council CEO John Grimes believes the dropping of the 2 yearly reviews may have been in part motivated by the timing of what would have been the next review.
“As soon as the Government worked out it would be holding a Review of the Renewable Energy Target in an election year – with all the political pain – they had no choice but to stop their disastrous push for 2 yearly reviews.”
Mr. Grimes has called on all political parties to commit to at least 50% renewables by 2030.
