Renewable energy target deal better than none

The Australian renewable energy target is far short of German achievement.  Germany generated 26% of its electricity from renewables in 2014.  And Germany is aiming for 60% by 2035 and for 80% by 2050. The Australian target was set to 41,000 gigawatt hours, 20% of 2009 consumption. When energy demand dropped and the 41,000 target looked like becoming 27% of the 2020 consumption, the Abbott government has attempted to slash this target.

After a year of damaging uncertainty, an agreement has been struck between the Coalition and Labor over a revised target. That should get the sustainable energy sector back on track. … However, the Abbott government’s vacillations shattered investor confidence in the sector. Billions of dollars earmarked for solar and wind farm projects left Australia for greener shores. … Only two wind farm projects and one solar farm development have reached financial closure in the past 18 months in Australia.

(The Age Editorial: 20 May 2015)
http://www.theage.com.au/comment/the-age-editorial/energy-target-deal-is-better-than-none-20150519-gh5b9x.html

Category: OzPolitics, RET
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