ARTICLE · 02 JULY 2010

Changes To The RET Scheme And The Impact On Financing Of Renewable Energy Projects

DLA Piper Australia

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With the pushing back of the CPRS to 2013, Australia will rely on the Renewable Energy Target (RET) scheme and the Federal Government's proposed Renewable Energy Future Fund to drive investment and R&D in renewable energy projects.

AustraliaEnvironment

Charmian Barton

Alicia Chryssochoides

With the pushing back of the CPRS to 2013, Australia will rely on the Renewable Energy Target (RET) scheme and the Federal Government's proposed Renewable Energy Future Fund to drive investment and R&D in renewable energy projects. The newly appointed Prime Minister Julia Gillard supports harnessing solar and wind power and the new emerging technologies in order to progress towards a low carbon economy.

The lower than anticipated price for renewable energy certificates (RECs) is impacting the ability of large scale project developers to finance their projects. Substantial changes to the structure of the RET scheme, introduced by the Renewable Energy (Electricity) Amendment Bill 2010 (Bill), will address concerns that small-scale technologies, such as solar PV, and associated government rebate schemes, are diluting the REC market.

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