2008

 

 

 

 

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

 

 

 

 

SENATE

 

 

 

 

 

 

 

Renewable Energy Legislation Amendment (Renewable Power Percentage) Bill 2008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXPLANATORY MEMORANDUM

 

(Circulated by authority of Senator Lyn Allison)

 

 

 

GENERAL OUTLINE

 

The purpose of the Renewable Energy Legislation Amendment (Renewable Power Percentage) Bill 2008 is to amend the Renewable Energy (Electricity) Regulations 2001.

 

The purpose of this Bill is to expand the interim targets from 2008.  The expanded targets are in line with the Government's election policy.  However the administrative process and timeframe announced in December 2007 means that the targets will not be expanded until 2010, resulting in the renewable energy industry stalling and the capacity and continuity of the renewable energy industry put at risk. 

 

Expanding the Mandatory Renewable Energy Target (MRET) from 2008 will create certainty and a stable investment environment for the ongoing development of renewable energy industry.

 

The proposed targets contained in this Bill will deliver additional greenhouse emissions abatement of 30 million tonnes above business as usual by 2010.

 

Schedule 1—Amendment of the Renewable Energy (Electricity) Regulations 2001

 

The amendment proposed in this schedule is to expand the target by increasing the renewable energy power percentages for the period commencing 1 January 2008 and ending 31 December 2020. 

 

The annual renewable energy power percentage and the corresponding GWh target is outlined in the following table.

 

Year	Regulated REPP	GWh Target
2008	3.22%	7,300
2009	3.98%	9,300
2010	4.60%	11,000
2011	5.30%	13,000
2012	6.56%	16,500
2013	7.71%	20,000
2014	8.80%	23,500
2015	9.86%	27,000
2016	10.85%	30,500
2017	11.79%	34,000
2018	12.83%	37,500
2019	13.83%	41,000
2020	15.0%	45,000