The Panel conducting Australia’s Renewable Energy Target (RET) review has called for submissions.
The Panel has released a paper (PDF) to assist those preparing submissions; which close on 16 May 2014.
The announcement is the first official communication from the panel since the Federal Government released the Terms of Reference for the review in February. The review panel consists of Dick Warburton AO LVO, Dr Brian Fisher AO PSM, Shirley In’t Veld and Matt Zema.Â
The Clean Energy Council is urging all its members to contribute a submission.
“Now is the time to tell the Federal Government that you want Australia’s Renewable Energy Target left alone,” says the CEC’s Deputy Chief Executive.Â
“Now we need your help to ensure the Australian Government understand what the people of Australia want, and what’s at risk for the renewable energy industry if they get this wrong.”
It’s not just industry participants who are invited to contribute a submission – anyone can.
Much is at risk if the Renewable Energy Target is abolished. Thousands of jobs and billions of dollars of future investment will be lost – and it will have little impact on reducing electricity prices for end consumers.Â
So far, the RET – which includes a large and small scale component – has generated more than $18.5 billion in investment and created more than 30,000 jobs at a current cost of between 3% – 5% of electricity bills; which will further decrease if the RET is left untouched.
The impact of the small scale solar component of the RET is already minimal and expected to halve over the next two years to less than 1% of a power bill. Further down the track, it will have zero net cost impact on household power bills.
The Renewable Energy Target provides support for the purchase of solar power systems. If that support is cut, it could add thousands of dollars onto the price of system; locking many Australians out of the opportunity to slash their power bills.
