By Sabra Lane
The RET was put in place by the Howard Government and tweaked in 2010, to ensure that 20 per cent of Australia‘s power would be generated by renewable resources by 2020 - effectively giving industry support to renewables at the expense of established fossil fuel electricity generators.
A recent review into the RET by businessman Dick Warburton recommended closing the large scheme to new entrants and shutting it by 2030, or ditching it now, with the renewable sector limited to a 50 per cent share of new growth in electricity demand.
Supporters of the renewable energy say the industry will be devastated if the Warburton review recommendations are adopted by the Federal Government.
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“The signal that is being sent here is ‘we are closed for business’, we actually don’t want renewable energy, we want coal-fired power stations, we want gas-fired power stations,” ARENA chairman Greg Bourne told 7. 30.
“I believe the Warburton review has failed to make a case to cut the Renewable Energy Target“.
The review found renewables put downward pressure on power prices but keeping the scheme as it is would result in a further $22 billion in cross-subsidies to the renewable sector.
“If the Renewable Energy Target is to be changed, this should only happen in response to the will of the people not climate change sceptics.
Read more here: ABC