The renewable energy target is a policy mechanism designed to encourage the increased use of renewable energy sources in Australia. The target is legislated as a statutory renewable energy percentage target, which is currently set at 33,000 gigawatt-hours (GWh) of renewable energy generated by 2020. The target is reviewed every three years.
The renewable energy target is distinct from the emissions reduction target, which is the primary policy mechanism used to reduce Australia’s greenhouse gas emissions. The renewable energy target is intended to complement the emissions reduction target by encouraging investment in renewable energy, which reduces emissions while also providing other benefits such as energy security.
The renewable energy target has been successful in stimulating investment in renewable energy, with over $20 billion of investment committed as of 2012. This has led to a significant increase in renewable energy generation, with renewable energy sources providing around 11% of Australia’s electricity in 2013.
The renewable energy target is currently under review, with the final report due to be released in mid-2014.
Other related questions:
Q: What is the renewable energy target for 2030?
A: There is no definitive answer to this question as it depends on a number of factors, including global energy demand, technological advancement and government policy. However, some estimates suggest that the global renewable energy target for 2030 could be as high as 50%.
Q: What is the target of renewable energy by 2022?
A: The target of renewable energy by 2022 is 100 gigawatts.
Q: How does the renewable energy target work?
A: The renewable energy target (RET) is a policy mechanism designed to increase the supply of renewable energy in the electricity sector in Australia. The RET requires electricity retailers to source a certain percentage of their electricity from renewable sources (such as solar, wind or hydro) by 2020.
Q: What is the renewable energy target Australia?
A: Australia’s renewable energy target is to have 20% of all electricity generated from renewable sources by 2020.