RET deal struck

The Coalition and Labor have finally reached a deal on the Renewable Energy Target (RET) after the Abbott government dropped plans for two-yearly reviews.

“It has been a tough 15 months, but this development will be a huge weight off the shoulders of the 20,000 people working in the industry. It will also help to unlock Australia’s massive renewable energy potential,” said Clean Energy Council Chief Executive Kane Thornton.

Under the deal, the target will be reduced from 41,000 to 33,000 GWh by 2020. “This has been a challenging process for all concerned, and we are obviously disappointed with a reduction of the target. We remain concerned about the impact of this lower target on the opportunity for emerging technologies like large-scale solar and will continue to work with both major parties on appropriate policy measures to address this.

“However, bipartisanship is essential to the success of renewable energy and it is only through the commitment of both major parties that we can now move to restore confidence and investment in the renewable energy sector,” he said.

Thornton said the Clean Energy Council did not support the proposal to include native forest wood waste unless there was an agreed process to verify it as coming from sustainably managed forests. “We remain hopeful that the major parties will continue to work through this issue for the good of the tens of thousands of people employed by the renewable energy industry,” he said.

“It is important that this in-principle agreement between the two major parties is effectively translated into legislation and that this is passed as quickly as possible, to secure a future for the renewable energy industry. After 15 long months, this is now within reach and we look forward to working with both major parties in the coming days to close out this deal.”