Renewable Energy Target 2014 Administrative Report was tabled in parliament on 11 May 2015. The report outlines the schemes performance against its legislated objectives in 2014.
The performance and impact of the Renewable Energy Target was in the spotlight throughout 2014. However, regardless of the policy debate during 2014, the Renewable Energy Target continued to operate according to its objectives. A total of 36.8 million renewable energy certificates were validly created in 2014, representing 36.8 million megawatt hours of additional electricity generated from ecologically sustainable sources or no longer required from the grid.In 2014 the Large-scale Energy Target experienced a slow-down in investment—wind farm accreditations, which had been increasing since 2010, fell for the first time in 2014.
In contrast, there was an increase in accreditations of large-scale solar power plants, with technology developments improving solar’s economic competitiveness at the utility scale.The Small-scale Renewable Energy Scheme experienced greater stability during 2014, with fewer changes to state-based incentives than in past years. A year of steady growth saw small-scale installations surpass the 2.2 million milestone by the end of 2014.In particular, there was strong growth in solar panel installations at the higher end of the Small-scale Renewable Energy Scheme as an increasing number of small to medium businesses joined householders in using solar panels to reduce their electricity costs.The outcomes of the 2014 calendar year demonstrate the Renewable Energy Target continues to operate effectively as a market-based instrument to support investment in renewable energy systems.
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.