In 2001 Australia introduced the world's first mandatory
renewable energy scheme, under which new renewable energy
generators earned a credit for each megawatt-hour of renewable
energy created, and retailers of electric power were obliged to
purchase and surrender to the regulator a number of these credits,
according to a prescribed percentage of their electric power sales
in each year, from 2001 to 2020.
In recent years there have been calls for the federal
scheme's percentage to be increased, and several states have
announced their own schemes to be introduced if the federal scheme
is not expanded.
The Federal Government has today released an exposure draft of
legislation to implement increase the federal renewable energy
target (RET) to 20%of energy production, and extend the scheme to
The bill amends the thresholds described in the legislation to a
new scale which peaks at 45,000 GWh of renewable energy in 2020
(was 9500 GWh), falling back to 23,000 GWh by 2030.
Included in the legislation is authority to permit the
regulations to prescribe a multiplier of up to 5 times for small
generation units such as domestic solar PV installations.
The draft bill proposes a 5x multiplier for the financial years
2009-2012, 4x for 2012-2013, 3x for 2013-2014, and 2x for
The draft bill refers to "small generation units"
generally, although the press release refers to domestic solar PV
installations. The draft bill enables the regulations to cap the
multiplier at a maximum of 1.5KW output.
That is, if the bill and regulations are implemented, domestic
solar PV installations installed in 2009-2012 will earn 5 RECs per
MWh of generation capability, rather than the usual 1 REC per
It is a common misconception that the grant of mining tenure, whether it be an Exploration Permit, Mineral Development Licence or Mining Lease, will entitle the holder to access all land within it in order to explore or mine.
This briefing note sets out a likely structure for the proposed privatisation of the networks and identifies key issues.
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