Victorian Renewable Energy Target

Country	Australia
Year Implemented	2007
Policy Status	Ended
Date Announced	June 2006
Date Effective	1 January 2007
Date Ended	2010
Agency	•Department of Primary Industries •Essential Services Commission
Policy Type	•Policy Processes   •Strategic Planning •Regulatory Instruments   •Mandates   •Quota Systems •Tradable Permits   •Green Certificate Trading
Policy Target	•Bioenergy   •Biomass for Power •Geothermal   •Power •Hydropower •Multiple Renewable Energy Sources   •Power •Ocean   •Tidal   •Wave •Solar •Solar Photovoltaic •Solar Thermal   •Concentrating Solar Thermal •Wind   •Offshore   •Onshore
Policy Sector	•Electricity
Size of Plant Targeted	Small and Large
Description	The Victorian Renewable Energy Target scheme is a market-based measure to increase the share of electricity consumption in Victoria from renewable energy sources to 10% by 2016. Under the scheme, all electricity retailers and wholesale purchasers of electricity in Victoria have a legal liability to contribute towards the generation of additional renewable energy by acquiring Victorian renewable energy certificates (VRECs). The renweable power percentage for the 2009 compliance year (1 January to 31 December 2009) has been set at 1.50%. The scheme will be transitioned into the national expanded Renewable Energy Target which is to commence in 2010.
URL	www.esc.vic.gov.au/public/VRET/ www.dpi.vic.gov.au/dpi/dpinenergy.nsf/childdocs/-3F827E74C37E0836CA25729D00101EB0-866B51F390263BA1CA2572B2001634F9-2D9B7B1F0DF350AECA2572B2001974E2?open