Renewable Energy Target Slashed

Coalition and Labor have agreed that the large-scale renewable energy target will be slashed from 41,000 to 33,000 GigaWatt Hours.  But this is not the end of it: 

  • The Coalition is refusing to provide the certainty that the renewables industry has craved, back flipping on its promise to put off the next review for four year. The industry will be facing another review next year, which will surely cause the same investment drought that has occurred over most of the past two years.
  • The Coalition is also proposing to include power from native wood waste to contribute to the target.  This could take up to one-third of the new target, 11,000 GWh.

(Renew Economy: 8 May 2105)
http://reneweconomy.com.au/2015/ret-deal-struck-but-policy-bastardry-continues-55314

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