Labor walks out of talks on 40% RET slash in Australia

Facebook
Twitter
LinkedIn
Reddit
Email

Labor refused to scrap Australia’s Renewable Energy Target (RET), and has now left negotiations to have the policy slashed.

“Labor has today ensured that Australia’s Renewable Energy Target will remain in place,” said Labor’s environment spokesman, Mark Butler, who wrote to the industry minister, Ian Macfarlane to state that Labor will not accept RET changes and has halted discussions.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Butler said Labor will protect the RET and rejects Tony Abbott’s plan to cut the target by 40% “which will kill thousands of jobs and billions in investment, as well as put upwards pressure on electricity prices”.

Labor argues investment and jobs will go overseas with an RET reduction, with RET investment already falling due to political uncertainty.

“Labor believes a strong Renewable Energy Target is a critical part of Australia’s response to climate change and transitioning our economy to a clean energy future,” said Butler.

The pull out from Labor happens just as solar advocate and Prime Minister of India, Narendra Modi is visiting the country, which is also hosting the G20 talks next week.

“The Abbott Government has ensured that Australia is the only country in the world to reverse action on climate change – a fact that won’t be missed at G20 meetings in Brisbane this week,” said Butler.

Abbott “has no commitment to meaningful action on climate change nor has he any interest in transitioning the Australian economy to a clean energy future”.

The RET is currently set for 41GWh of annual renewable power generation by 2020 – negotiations were underway to slash the target by 40%, to 26GWh.

Representing Australia’s clean energy sector, the Clean Energy Council has said that leaving the RET alone, grants AU$14.5 billion investment in clean energy, 18,400 jobs, with energy bills costing customers the same.

While cutting the RET could cause AU$6 billion less investment, 6,200 fewer jobs and an extra AU$42 added to bills and a complete scrap would result in AU$11 billion lost investment, 11,800 jobs lost, and an extra AU$56 a year added to energy bills.  

Read Next

July 31, 2026
Australia's installed cost of utility-scale solar has not fallen at the pace required to reach the country's “ultra-low-cost solar” (UCLS) ambitions, despite continued progress in cell and module efficiency.
July 31, 2026
Queensland and Northern Territory have refused to back a national framework requiring large data centres to underwrite new renewable energy.
July 30, 2026
Origis Energy has built the first 1GW of solar PV capacity at its planned massive 2GW Rockhound solar-plus-storage facility in Texas.
July 30, 2026
EDPR has agreed to sell an 80% equity stake in a 384MW solar-plus-storage portfolio in the US to a Private equity firm Ares Infrastructure.
July 30, 2026
German chemical producer Wacker Chemie has recorded a significant decline in its earnings from polysilicon, due to the adverse market conditions in the solar sector.
July 30, 2026
Walden has secured US$250 million from Crayhill Capital Management to support its 5GW US utility-scale solar PV and BESS pipeline.

Upcoming Events

Solar Media Events
October 13, 2026
San Francisco Bay Area, USA
Solar Media Events
November 3, 2026
Málaga, Spain
Solar Media Events
November 24, 2026
Warsaw, Poland
Solar Media Events
April 20, 2027
Istanbul, Türkiye