Future of RET back in the spotlight

Ret up for discussion once again 171 90494 0 14012809 300

There's been plenty of talk about the Renewable Energy Target (RET) over the course of 2014, and as the year draws to a close, the RET once again stealing the headlines.

Another review into the RET is to get underway, which the Clean Energy Council reveals is the ninth of its kind to take place in the space of just three years.

Policy Director at the Clean Energy Council Russell Marsh explained that the review is unlikely to come to any conclusions that haven't already been drawn.

"Each of the previous reviews conducted into renewable energy and wind power over the past few years has concluded that the key policies are working very effectively, the sector is well regulated and delivers significant benefits at very low cost to consumers ," he noted.

There are already concerns that investment in renewable energy has taken a hit this year as a result of the RET being placed under investigation - and the group believes this shouldn't be allowed to continue.

Mr Marsh explained that investment has been 70 per cent lower than last year, which is largely the result of reviews being carried out into the sector.

Australia must prove to the world that it is capable of improving the energy efficiency of its electricity supplies and is proactively moving towards a greener future.

The RET was introduced to ensure 20 per cent of Australia's energy is sourced from renewables by 2020, while improving investment in related technologies.

The initiative operates in two parts - the Small-scale Renewable Energy Scheme and the Large-scale Renewable Energy Target - but was placed under review earlier this year.

Government officials said the review would ensure the RET remains the most effective way of moving Australia towards a more efficient future and whether any amendments would need to be made.

Posted by Jeremy Elliott