Introduction
Following the stakeholder consultation in October 2012, the
Climate Change Authority (CCA) has recently
released its final report (Report) on the
Renewable Energy Target (RET).
The CCA has recommended that the key elements of the RET be
retained. This recommendation is based on the CCA's view that
the RET has a continuing role to play in supporting investment in
renewable generation in an uncertain policy environment. Instead of
challenging the existence or the substance of the RET, the Report
focuses on ways to improve the RET.
No changes to key elements
Recognising the need for confidence, predictability and policy
stability as a means to encourage investment in renewable energy
generation, the Report recommends the retention of the existing
fixed Large-scale RET (LRET) of 41,000 gigawatt
hours (GWh). The CCA also recommends that RET
reviews occur every four years (rather than every 2 years) to
promote greater investor confidence. The next RET
