What are Australian goals for renewable energy?

In an effort to reduce global greenhouse gas emissions, an international agreement known as the Kyoto Protocol was agreed upon in 1997, and has since been ratified by 178 countries. Australia filed its 'instrument of ratification' in December 2007, becoming effective in March 2008.[1] The goal of the Kyoto Protocol is to reduce global greenhouse gas emissions by requiring developed countries to meet national targets for greenhouse gas emissions to be met in the 2008 to 2012 time frame. Each developed country's target is negotiated and agreed upon internationally. Australia's annual target is 108% of its 1990 emissions. Renewable energy plays a strong role in reducing Australia's greenhouse gas emissions, and in helping Australia stay on track to meet its Kyoto target and beyond.[2]

A Mandatory Renewable Energy Target (MRET) scheme was introduced by the Australian Government in 2001, which aimed to increase the uptake of renewable energy in Australia's electricity supply. In 2007 the Australian Government committed to ensuring that 20 per cent of Australia's electricity supply would come from renewable energy sources, (e.g., solar, wind, and geothermal) by 2020.

To deliver on this commitment, the Australian Government is working in cooperation with its states and territories through the Council of Australian Governments (COAG). Together, they are working to implement an expanded national Renewable Energy Target (RET) that will bring the MRET and existing and proposed state and territory targets into a single national RET scheme, as a transitional measure to assist Australia’s transformation to a low emissions economy.[3]

The national Renewable Energy Target (RET) scheme will:[4]

• increase the existing Mandatory Renewable Energy Target (MRET) by more than four times to 45,000 gigawatt-hours of electricity to be sourced from renewable energy in the year 2020;
• contribute to meeting Australia’s targets for the reduction of greenhouse gas emissions;
• provide a market incentive to accelerate uptake of Australia’s abundant renewable energy sources, which include solar, wind and geothermal energy; and
• reduce red tape by bringing existing state-based targets into a single, national scheme.

Legislation to implement the expanded national Renewable Energy Target scheme is expected to be in place by mid–2009. Additionally, the Australian Government is introducing the Carbon Pollution Reduction Scheme, which provides further incentives to reduce greenhouse gas emissions by setting a carbon price. As the Carbon Pollution Reduction Scheme matures between 2020 and 2030, the RET scheme will be phased out.

The Australian Government is supporting renewable energy through a range of initiatives that complement the RET scheme.

These include:

• the $500 million Renewable Energy Fund which will develop, commercialize and deploy renewable energy in Australia;
• $150 million for solar and clean energy research; and
• more than $500 million for the Solar Cities, National Solar Schools, and Green Precincts initiatives.