Australia’s reduced Renewable Energy Target (RET) of 33,000GWh could scale back large-scale solar potential in the country by 80%, according to a leading industry figure.
John Grimes, chief executive of the Australian Solar Council, explains to PV Tech what impact the recent political compromise on the country's Renewable Energy Target will have on its solar industry.
Australia’s government and opposition have agreed to set the country's Renewable Energy Target (RET) at 33,000GWh by excluding controversial plans for two-yearly reviews.
Australia’s Labor Party will not support a deal on the Renewable Energy Target (RET) over its biennial reviews and the inclusion of wood waste from native forests, despite Coalition announcements that a deal had been reached.
Business groups have called on Australia’s federal government and opposition to come to an agreement on the country’s Renewable Energy Targets (RET) to provide certainty for the renewables industry, but solar campaigners have said proposed targets are too low.
Australian utility company AGL has called on the country’s regional and local government to “set both binding and aspirational medium and long-term emission reduction targets”, while outlining its own commitments to carbon reduction.
Energy storage start-up Stem says it sees a “strong opportunity” for expansion of its business in Australia, Japan and the EU and is especially focused on the potential of aggregated 'virtual power plants', in the week when the company closed a US$12 million funding round led by Japanese trading company Mitsui & Co.
In a joint statement from the Australian Minister for the Environment and Minister for Industry and Science, the government proposed a new approach to Australia’s renewable energy target (RET).
