The Federal Government has released the Terms of Reference for a review into the Renewable Energy Target (RET) scheme.
The Renewable Energy Target (RET) scheme, comprised of the large-scale and small-scale schemes, is aimed at increasing renewable energy generation and reducing greenhouse gas emissions from the electricity sector. It is designed to deliver the equivalent of 20 per cent of Australia’s electricity from renewable sources by 2020.
The review is to examine the operation and costs and benefits of the Renewable Energy (Electricity) Act 2000 (‘the Act’) and related legislation and regulations, and the RET scheme constituted by these instruments. This includes considering:
The review should provide advice on:
The review is also to consider the Government’s election commitment to reinstate native forest wood waste as an eligible renewable energy source.
The review is to be led by a panel of experts appointed by the Ministers for Industry and the Environment, supported by a secretariat in the Department of the Prime Minister and Cabinet. The panel is to undertake public consultations, seek submissions and provide a report to the Prime Minister, the Treasurer and the Ministers for Industry and the Environment by mid-2014.