Ian McFarlane and environmental minister Greg Hunt have proposed a huge reduction in the RET from the legislated (and previously bi-partisan) 41,000 gigawatt hours of renewable energy to 27,000 gigawatt hours by 2020. However, doing this will put billions of dollars worth of renewable energy investment at risk while boosting the profits of their mates in the fossil fuel business. For more information, click here.
They have taken a baseball bat to a policy that has been stable and bipartisan for 4 election cycles, and are blaming the opposition for the mess, because Labour refuse to join in the savage beating. It is very clear that the whole RET policy has been corrupted by the politics of fear and anger. Fear that renewable energy champions (in their eyes: all Greenie Hippies who are somehow “anti electricity”) might have been right all along and anger that anything might challenge the supremacy of the coal industry that has lined their biggest supporters’ pockets for so long.
(They have also promised that solar will be “untouched”. Which is rubbish. Although they are not proposing changes to the residential (small scale) solar scheme, they are still proposing a reduction from 100kW to 10kW in the maximum size of a commercial system that is eligible for rebates. This would really hurt the commercial solar market. Not to mention that meddling with the system could cause the price of STCs to plunge)
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