The Renewable Energy Target has come under increasing scrutiny as the level of electricity consumption has fallen. There is confusion over how the RET has been calculated, and particularly in relation to how the initial 20 per cent target has been converted into a fixed target. This article summarises how the numbers fit together with further detail provided in a Green Energy Markets Research Note.
A summary of the key points are as follows:
-- The RET policy commitment is for at least 20 per cent of Australia’s electricity supply to come from renewable energy.