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KEY MESSAGES

KEY MESSAGES. The RET works It has driven renewable energy in Australia since it was introduced by John Howard in 2001. It is different to the carbon tax and other ‘green schemes ’, like feed-in tariffs.

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KEY MESSAGES

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  1. KEY MESSAGES The RET works It has driven renewable energy in Australia since it was introduced by John Howard in 2001. It is different to the carbon tax and other ‘green schemes’, like feed-in tariffs. The RET has contributed to the 14,000+ megawatts of capacity in Australia's energy system: Renewables now provide more than 13 per cent of Australia’s total energy supply. Half of this has come from solar PV. It has created 30,000 Australian jobs in the renewable energy industry: Around half of these have been in solar PV. It has brought $18.5 billion investment in renewable energy technologies: Australian households spent about $8.4 billion on rooftop solar between 2010 and 2012. There have been more than 2 million small-scale installations (solar panels and hot water). Thanks to the RET, greenhouse emissions are 22.5 million tonnes lower.
  2. KEY MESSAGES The cost of the RET is small and getting smaller The RET adds just 3 to 5 per cent to the average electricity bill: The Small-scale Renewable Energy Scheme (SRES), which provides a financial incentive for people to install solar panels and other small-scale systems, adds less than 2 per cent to the average bill and is expected to decrease to less than 1 per cent in the next year or two. Energy-intensive export businesses, such as Alcoa, receive 60 to 90 per cent exemption from RET costs. The RET cost is a small price to pay to protect Australia from rising gas prices.
  3. KEY MESSAGES Reducing the RET does not reduce electricity prices Reducing the RET increases Australia’s reliance on gas. Australia could miss out on another $18 billion of investment, and tens of thousands of additional jobs.
  4. HISTORY OF THE RET 2001: Mandatory Renewable Energy Target (MRET) introduced by Howard Government with the objective to deliver 9500 GWh of additional renewable energy generation by 2010. 2009: RET expanded to deliver additional 45,000 GWh by 2020 with support of Coalition. 2010: In a change again supported by all major parties, the scheme was split into: Large-scale Renewable Energy Target (LRET) Small-scale Renewable Energy Scheme (SRES). 2012: Comprehensive review of the scheme undertaken. Key conclusions were: Scheme was working and mechanism should be largely left alone Reducing the RET would not reduce electricity prices Two-yearly Federal Government reviews were creating uncertainty and should be removed.
  5. THE RET IS POPULAR WITH VOTERS
  6. WHAT THE RET MEANS FOR MY BUSINESS [Insert background to your business] [Detail what your business does, the value it gives to customers, the number of staff you have and its annual turnover] The RET is the key policy left to support solar PV: State-based feed-in tariffs are gone. The cost of solar has come down dramatically in recent years: This has been helped by the scale created by the RET. The RET lowers the up-front cost of solar: It ensures that lower-income families can afford it. Eligibility is required for creating small-scale technology certificates (STCs) through Clean Energy Council accreditation: The quality and safety of systems has improved. A stable RET policy gives confidence to invest more in my business.
  7. WHAT A LOWER RET MEANS Higher prices for household and business electricity consumers. Solar helps to manage peak demand. Because households using solar don’t buy as much power from the grid, higher-price gas power plants aren’t needed: This keeps costs down for everyone. Less renewable energy means more gas and, again, higher electricity prices. In the recent heatwave in Victoria and South Australia, there was record electricity consumption, but below record demand on the grid. During record demand in 2009, the wholesale price of electricity was $4600 MWh. Thanks to solar, the wholesale price during the 2014 peak was $500 MWh. An increase in the cost of solar PV and solar hot water: This would put them out of reach of many families struggling with cost of living. Fewerjobs in the solar industry: There are currently around 14,000. Australia loses $18.7 billion of new investment in renewable energy from now to 2020.
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