Renewable Energy (Electricity) Amendment Bill 2015 has been passed by the Australian Parliament.
The Large-scale Renewable Energy Target has been reduced from 41 000 GWh to 33 000 GWh in 2020 with interim and post-2020 targets adjusted accordingly. In addition, there will no longer be two-yearly reviews of the scheme, the electricity used in the prescribed emissions-intensive trade-exposed activities will be fully exempt from liability under the scheme, and native forest wood-waste will be reinstated as an eligible fuel source, subject to the same conditions that were in place prior to its removal from eligibility in late 2011. The Small-scale Renewable Energy Scheme will continue unchanged.
The Clean Energy Regulator will also prepare an annual statement on how the scheme is tracking towards the 2020 target.
Further information about the legislative amendments can be found in the joint media release from the Minister for the Environment, the Hon. Greg Hunt MP, and the Minister for Industry and Science, the Hon. Ian Macfarlane MP.
The Clean Energy Regulator will work with Renewable Energy Target scheme clients as the legislative amendments commence and the necessary regulations are made.
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.