Crossbench deal to cut RET may help renewables industry

A deal between the government and crossbench senators to cut the large-scale RET to 32,500GWh may actually work out better for the renewable energy industry than waiting out for a deal involving Labor. It offers greater upside and less risk of no deal at all.

After a meeting with Environment Minister Greg Hunt, Tasmanian senator Jacqui Lambie said she was close to voting for a government proposal to cut the Renewable Energy Target, but said that she believed a target of 32,500GWh in 2020 for the large-scale component of the scheme – rather than the government’s preferred position of 26,000GWh – was the right number.  

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