The objectives, as set out in the Renewable Energy (Electricity) Act 2000, are to:
The Renewable Energy Target is achieving these objectives by stimulating investment in renewable power stations and increasing the number of small-scale renewable energy systems such as rooftop solar panels and solar water heaters. To date, 440 power stations have been accredited and more than 2.2 million small-scale systems installed.
Based on current demand forecasts (which take into account a decline in electricity demand not anticipated when the target was set), the target of 41 000 gigawatt hours is likely to represent around 27 per cent of the Australian electricity market in 2020.
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.