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ARTICLE · 24 MAY 2015

A step closer to resolution of the Renewable Energy Target

Norton Rose Fulbright Australia
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The Government and Opposition have set the Large Scale Renewable Energy Target (LRET) at 33,000 GWh by the year 2020.

AustraliaEnergy and Natural Resources
Elisa De Wit
Elisa De Wit
Noni Shannon
Noni Shannon
Emanuel Confos
Emanuel Confos
Wilfred Finn
Wilfred Finn
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Introduction

On Friday 8 May 2015 the Industry Minister, Ian MacFarlane, announced that the Abbott Government had agreed with the Federal Opposition to set the Large Scale Renewable Energy Target (LRET) at 33,000 GWh by the year 2020.

The announcement was confirmed this week and follows almost nine months of political and industry negotiation since the Renewable Energy Target Scheme – Report of the Expert Panel (Non-Statutory Review) was released in August 2014. We have previously provided legal updates on the terms of reference and the findings of the Non-Statutory Review.

While this compromise still needs to pass through the Senate, it offers hope that the uncertainty that has plagued Australia's renewable energy industry in recent years will finally be over.

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