20% Renewable Energy by 2020....

As part of the federal governments commitment to developing solutions to climate change the new Renewable Energy Target (RET) has been set at 20% by 2020.

This will ensure that all large "Stationary Energy Providers" source a minimum of 20% of their energy from Renewable sources. A "Stationary Energy Provider" refers to electricity generators providing for wholesale use or purchase and excludes energy consumed in such processes as transport.

This legislation is seperate from a "Carbon Pollution Reduction Scheme" (CPRS) in that it provides direct incentives for installing renewable energy systems. These direct incentives will aid in the financial decision making process when analysing renewable energy options.

It is anticipated that the RET will be superseeded by the CPRS around 2030 assuming that the CPRS achieves its desired outcomes.