The predicted achievement of the Renewable Energy Target in 2020 represents an important milestone in the ongoing transition to a lower emissions electricity grid, the energy industry said today.
The Australian Energy Council’s Chief Executive, Sarah McNamara, said: “We have had a bi-partisan national renewable energy target in place since 2009, which has been very successful in driving investment in large-scale wind and solar generation.
“The Clean Energy Regulator has now confirmed that there are sufficient projects approved to meet the large-scale target for 2020. In other good news, the costs of those technologies continue to fall. This means we no longer need direct policy intervention to encourage investment in renewables as we anticipate investment in renewable capacity will be ongoing.
“But it is not yet ‘mission accomplished’. The energy market transition still requires careful planning. More renewables are part of the solution, not the solution itself.
“Now Government and industry need to think beyond the RET’s conclusion in 2020 to work out how to continue the journey of decarbonisation for the energy sector, while ensuring reliable supply at the lowest possible cost to consumers,” Ms McNamara said.
About the Australian Energy Council
The Council represents 21 major electricity and downstream natural gas businesses operating in competitive wholesale and retail energy markets. These businesses collectively generate the overwhelming majority of electricity in Australia and sell gas and electricity to over 10 million homes and businesses.
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