2% Renewable Energy Target

Country	Australia
Year Implemented	2001
Policy Status	Superseded
Date Promulgated	1999
Date Effective	2001
Agency	•Department of Climate Change
Related Policies	Renewable Energy Development Initiative
Policy Superseded by	Mandatory Renewable Energy Target (MRET)
Policy Target	•Multiple Renewable Energy Sources   •Power
Policy Sector	•Electricity
Description	The Federal Cabinet confirmed arrangements to deliver the Prime Minister's commitment to boost the contribution of renewable energy to Australia's electricity supply by 2 percent by 2010. The announcement followed final consultations with several national industry bodies aimed at providing certainty for industry and implementation of the measure at the lowest cost possible. A fixed target was established of 9,500 GWh in 2010, based on ABARE 1996/97 data as a baseline. The targets were to be implemented with a system of tradable certificates, on the basis of an accredited generator delivering electricity to a grid, end point user or directly to a retailer or wholesaler buyer. Solar water heating was also eligible. The Government also agreed that the penalties for non-compliance should be set at AUD 40/MWh. Legislation to enforce the 2% target was introduced in June 2000, with the measure phased in from January 2001. When implemented, the measure was known as the Mandatory Renewable Energy Target (MRET).
URL	www.climatechange.gov.au/renewabletarget/mret.html