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  • How Renewable Energy Targets Reform Will Affect Your Back Pocket

    The Australian solar and renewables industries have reacted with disappointment at the recent recommendations from the Warburton inquiry that the Renewable Energy Target scheme be substantially reformed.

    The inquiry seemingly ignored expert solar industry advice that axing the Renewable Energy Target would see demand for solar fall by 40-50%, with a similar reduction in jobs.

    With 1.3 million Australian households already experiencing the cost savings delivered by the RET, the outlook for those yet to take up solar is not optimistic. Which means millions of Australians who are yet to take up solar will find it harder to reduce their power bills.

    It’s even more surprising considering Government-commissioned modelling for the review found that consumers would be an average $56 better off from 2021 if the Target is kept in place.

    Recommendations for the Small-scale Renewable Energy Scheme

    The panel has recommended that the government take one of four courses of action with regard to the SRES, which provides up-front support for the installation of rooftop solar power and other renewable energy systems under 100kW. Currently, the SRES helps to make Solar more affordable.

     

    Under the latest recommendations, subsidies for small-scale solar systems are likely to fall.

     

    Recommendations for the Large-scale Renewable Energy Target

    The LRET comprises the main ‘target’ portion of the Renewable Energy Target: under the current RET, 41,000 gigawatt-hours (GWh) of electricity are mandated to come from large-scale renewable plants by the year 2020. With the future of the LRET in question, fostering large-scale renewable energy project investment and development in Australia has made investors nervous.

    With Bloomberg New Energy Finance warning that changes to the RET could set back the Australian renewables industry by a decade, solar campaigners Solar Citizens have issued a media release urging its followers to email their MPs about the importance of maintaining the RET as it is.

    Source: http://www.solarchoice.net.au/blog/news/what-renewable-energy-target-review-panel-report-means-for-those-thinking-about-going-solar-290814?utm_source=SC+Installers&utm_campaign=87decd8f92-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_016c841e49-87decd8f92-84520009

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