MEDIA RELEASE – Renewable Energy Target works, must be maintained

The full RAA RET Review submission can be found at here

The REC Agents Association (RAA) – a national industry body for companies that create and trade in renewable energy certificates – has called for the Renewable Energy Target to be maintained to ensure lower power prices for all Australians.

Responding to the latest review of the Renewable Energy Target (just 17 months after the last Review), RAA has outlined the benefits of the Small-scale Renewable Energy Scheme (SRES), which has helped Australian families reduce their power bills by installing solar hot water and solar panels.

“The small-scale renewables target is working as expected, meeting annual targets set by Government and delivering policy outcomes set by successive governments, with bipartisan support,” said Ric Brazzale, RAA President.

“There is no reason to change the small-scale renewables target, particularly given the fact there was a significant reduction to the target just seventeen months ago,” said Mr Brazzale.

”The Renewable Energy Target has created a strong industry, generating tens of billions of dollars of investment and helping five million Australians reduce their power bills at zero cost to the Budget. 
The renewables target must be maintained and left to fully deliver on its potential,” said Fiona O’Hehir, RAA Vice-President.

Key conclusions of RAA’s submission to the RET Review include:

  • The solar industry has delivered, with 4,000 businesses (predominantly SMEs employing 12,500 people) investing in response to strong bipartisan support.
  • The SRES is critical for the continued development of the solar industry.
  • The SRES has already taken a haircut and cost is set to fall dramatically.
  • The SRES leads to lower costs for all customers (when wholesale cost reductions are taken into account).
  • Rising gas prices are starting to wreak havoc on Australian families and businesses – the SRES protects us all against rising power prices.
  • Undermining the SRES protects the interests of the big power companies at the expense of all energy customers.
  • The RET Review is undermining the solar industry. Unpredictability and uncertainty are paralyzing thousands of solar businesses across Australia and putting thousands of jobs at risk.

For comment and more information: contact Ric Brazzale on
0419 522 659 or Fiona O’Hehir on 0409 176 167.

The full RAA RET Review submission can be found at here

18 May 2014