Renewable Energy Target has a net benefit for all consumers

The Public Interest Advocacy Centre has made available their recent submission to the review of the Renewable Energy Target (RET) scheme.

The RET scheme is designed to ensure that at least 20 per cent of Australia’s electricity comes from renewable sources by 2020. It aims to transform our electricity generation mix to cleaner sources (such as solar and wind) and to support growth and employment in the renewable energy sector.

Wind turbines

‘The economic, environmental and social impacts of the RET scheme have been well documented and are overwhelmingly positive for Australians,’ said Dr Gabrielle Kuiper, Senior Policy Officer in PIAC’s Energy and Water Consumer Advocacy Program.’

‘PIAC’s view is that the RET is in the long-term interests of consumers and that there is currently no need for changes to the RET, especially so soon after the Climate Change Authority’s (CCA’s) comprehensive review in 2012.’

PIAC’s submission outlines research that shows a net financial benefit of the RET for all consumers, because of the way renewable energy decreases wholesale electricity prices.

Read the submission.

Photo Credit: Mycatkins via (cc)