RET: an efficient solution to the wrong problem?

The renewable energy target has been effective in delivering clean energy at a reasonable cost but with an ETS in place, the Grattan Institute contends it's time for new initiatives, like a reverse auction.

Australia must rapidly transform its power sector to meet its emission reduction targets. This means large-scale change in our electricity generation sector. According to Treasury modeling, renewables will need to grow from less than 10 per cent market share to Australia’s largest source of power.

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