Renewable Energy Target (RET): The RET is a national scheme that requires energy retailers to source a certain percentage of their electricity from renewable sources, including solar. This indirectly supports the solar industry by creating a demand for renewable energy generation.

July 11, 2024by Luke0

In Australia, the RET was first introduced in 2001 with the goal of increasing the use of renewable energy sources and reducing carbon emissions. The scheme has been revised several times over the years, with the current target set at 33,000 gigawatt-hours of renewable electricity by 2020.

The RET has been successful in driving investment in renewable energy projects, including Solar farms and rooftop Solar installations. It has also helped to create jobs in the Solar industry and reduce Australia’s reliance on fossil fuels.

By increasing the demand for Solar energy, the RET has helped to make Solar power more affordable and accessible for consumers. This has led to a rapid uptake of Solar panels on homes and businesses across the country, contributing to a more sustainable energy future.

Overall, the Renewable Energy Target has been an important policy instrument in promoting the growth of the Solar industry in Australia and reducing the country’s carbon footprint.

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