CEC report shows RET benefits

It's been just a few days since the Clean Energy Council (CEC) praised the Productivity Commission for recommendations in a draft report regarding energy markets. 

And now it looks like the organisation is keen to get in on the act itself, publishing a new paper on the benefits of the Renewable Energy Target (RET).

Compiled by independent consultancy SKM MMA, the study highlights a whole host of advantages for the scheme, which aims to have 20 per cent of all Australia's energy generated through sustainable sources by 2020, including solar PV systems.

One of the major benefits is money, with the report showing that the RET is responsible for $18.5 billion worth of investment already, with a further $18.7 billion predicted should the initiative be allowed to stay the course.

The document comes at a time when the Climate Change Authority (CCA) is conducting a review of the RET to see whether it should be retained in its existing form, which is due to be completed in December this year.

These evaluations happen every two years and the CCA is currently receiving submissions from a number of organisations that are either in favour or oppose the RET.

And the CEC is firmly in support of the project, noting that its report can prove how beneficial the scheme is - and not just in terms of cash.

Chief executive officer (CEO) of the organisation David Green said: "The report shows that, if left unchanged, the Renewable Energy Target will result in 12 per cent less coal-fired generation and 13 per cent less gas-fired generation between now and 2030, with no reliability or security of supply issues identified.

"Retaining the current Renewable Energy Target will also mean we can meet the bulk of our target for reducing carbon emissions with renewable energy projects right here in Australia, supporting local jobs in regional areas."

And he didn't stop there. Mr Green was keen to point out that the RET shouldn't be considered the last step in a process, but just the beginning.

The CEO said it was the first stage in a transition towards a cleaner Australia that relies on energy efficiency and renewable technology.

So how confident is he that the RET will continue in its current form? Well, pretty confident it would seem.

The review will realise the economic and environmental benefits of the scheme, Mr Green concluded, while recognising the importance of stable policy for continuing to attract investors.

Posted by Mike Peacock

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