After being decoupled from the Australian Government’s failed Carbon Pollution Reduction Scheme (CPRS), the Renewable Energy Target bill was passed in the House of Representatives last night.
The legislation will see 20 per cent of Australia’s energy needs sourced from renewable energy within 20 years.
For Australia’s solar industry, it’s very good news as the legislation also covers the Solar Credits program that will provide substantial rebates for households, businesses and community groups wishing to install solar power systems, both off grid and grid connect.
Financial incentives for the installation of solar hot water systems are not covered under the Solar Credits scheme as these are serviced under other rebate arrangements.
Unlike the previous rebate; the Solar Credits scheme is not means tested; meaning that most households will be eligible for the program.
Implementation of the Solar Credits scheme was meant to be a smooth transition from previous rebates that were axed with little or no warning, but the inclusion of the program in the government’s Carbon Pollution Reduction Scheme saw funding stalled for nearly two months – frustrating Australian households wanting to install systems and putting many jobs in the solar industry at risk.
It’s expected further amendments will be made to the bill prior to a vote in the Senate to occur on Thursday.
In an odd compromise, amendments already made to the RET allow for coal seam methane tapped for use as an energy source to also be counted in the RET, a move the Australian Greens say is a deal struck to increase the profit margins of the coal sector. However, Senator Wong says it would be included on top of the 20% target
—
