UK shows way to reform RET

The Renewable Energy Target does an inadequate job in developing Australia's low carbon energy options. The UK shows a route to reform.

There is much debate about whether Australia’s Renewable Energy Target (RET) will or even should be retained in its current or an alternative form after the election. Although both main parties have promised to keep the target of 20 per cent of Australia’s electricity coming from renewable sources by 2020, the winner will come under pressure from a range of companies that say the target is too tough and should be relaxed. While these companies are speaking out of self-interest, there are nevertheless problems with the RET. It is therefore intriguing to take a look at the United Kingdom where the government is committed to closing down the Renewable Obligation, its version of our RET.

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