The 2017 renewable power percentage is 14.22%.
This means liable entities (generally electricity retailers) will be required to surrender to us approximately 26 million large-scale generation certificates to meet their Renewable Energy Target obligations in 2017.
Under the Large-scale Renewable Energy Target,
liable entities must source large-scale generation certificates to meet their renewable energy obligations.
The number of certificates each liable entity needs to source and then surrender to us each year is in proportion to the amount of electricity they acquire. Liable entities calculate the exact number of certificates they need to surrender each year by multiplying the amount of electricity they acquire (minus any exemption certificates) by the renewable power percentage.
The percentage for a year is set in regulation by 31 March of that year.
Each year the Minister for the Environment and Energy must consider a number of matters when setting the percentage:
* Since June 2015, Emissions-Intensive Trade-Exposed (EITE) activities have had full exemption from Renewable Energy Target obligations, compared with partial exemptions in earlier years. Full EITE exemptions have been included in the percentage calculations since 2016.
The surrendered certificates enable the annual targets to be met, and contribute to reaching the 2020 target of 33 000 gigawatt hours of renewable electricity, as set under section 40 of the
Renewable Energy (Electricity) Act 2000. The annual target in 2017 is 26 031 gigawatt hours or 23.031 million certificates.
All Large-scale Renewable Energy Targets from 2001 to 2030, and the renewable power percentages to 2017, are available in the table below.
The following table provides the targets under the Large-scale Renewable Energy Target in gigawatt hours (GWh) as reflected in the legislation at the specified date.
It also provides the renewable power percentages (and the default percentages) for the current
Large-scale Renewable Energy Targets.
documentAsset:LRET 2001-2030 Annual targets and renewable power percentages
The Renewable Energy (Electricity) Regulations 2001 can be amended up to 31 March each year to set the renewable power percentage. The Clean Energy Regulator publishes the percentage when the amendment is made.
If the amendment is not made by 31 March, a default formula will apply for that year, as stated in the Renewable Energy (Electricity) Act 2000. For more information about the default formula refer to
section 39 (2) (b) of the Renewable Energy (Electricity) Act 2000.
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