Too Much Energy Generation in Australia?
Author: Energy Matters Date Posted:15 September 2014
The Renewable Energy Target is achieving exactly what it is designed to do
The Renewable Energy Target is achieving exactly what it is designed to do - but instead of bathing in the glory of its success, it seems Industry Minister Ian McFarlane is wringing his hands.
According to the Clean Energy Regulator, the previously fully bi-partisan supported Renewable Energy Target was designed to:
"reduce emissions of greenhouse gases in the electricity sector and encourage the additional generation of electricity from sustainable and renewable sources."
- reducing emissions? tick.
- additional electricity from renewable sources? tick.
For bonus points, the Renewable Energy Target has also created tens of thousands of jobs and billions in investment. It could continue to do so - and all at a reasonable and reducing cost.
The Clean Energy Regulator says the Renewable Energy Target contributed approximately 4 per cent to household electricity bills in 2013-14 period - approximately $60 per year, or just over $1 per week for someone with a $1500 per year electricity bill. That cost will decrease further in the years ahead if the RET is left untouched.
However, instead of the government claiming some much-needed kudos for this massively successful scheme and assuring its future, Minister McFarlane apparently sees what's happening as A Bad Thing.
