Aug 26, 2014 - 9:00amThe Renewable Energy Target (RET) is designed to reduce carbon pollution from the electricity sector and build Australia’s renewable energy industry. And it’s working: the RET has already reduced half a million cars’ worth of pollution. By 2020, it should help create enough renewable energy to power every household in Australia.
But some coal and gas power companies and industry associations want the target reduced or abolished completely.
What would it mean for your state?
In total, Australia would lose $8 billion of investment in renewable energy technologies like solar and wind if the RET is reduced. The figure is even higher in each state if the RET is altogether abolished.
NSW and South Australia would each lose over $2 billion, while Victoria and Queensland would lose over $1 billion. If the RET is abolished, states would lose even more investment.