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RET is met, and Frydenberg concedes more wind and solar will lower prices, improve reliability

Renewable energy

The Clean Energy Regulator has announced that the 2020 renewable energy target is effectively met – three years ahead of schedule – with some 6,500MW of large scale wind and solar projects already built, under construction, or committed.

The announcement by the CER confirms separate analysis by private consulting firms that suggest that the much-reduced 33,000GWh target for 2020 will be easily met, well ahead of time.

That 33,000GWh target, slashed by the Abbott government from 42,000GWh under the pretext that it would cause prices to rise and the lights to go out, was still branded as “impossible” to meet by many conservative commentators.

Those predictions proved absurd, but it raises the question of what might have been, and what will follow, given the uncertainty around federal energy and emissions policy.

 

View the full article from RenewEconomy here.

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