Australian Renewable Energy Bill in Billions

Achieving renewable energy targets from the Tambling report could cost the country $21.45 billion over the next 30 years

Published: 11-Mar-2004

N class=bodytext>ACHIEVING renewable energy targets from the Tambling report could cost the country $21.45 billion over the next 30 years, the federal Government has been warned.

The estimate is contained in responses from a number of energy industry organisations to the Mandatory Renewable Energy Target (MRET) review, published in January, which recommended Australia should aim to derive 20,000 gigawatt hours of electricity from renewable sources by 2020.

The report, by an independent panel led by former Northern Territory politician Grant Tambling, declined to increase the renewable target above the present 9500 gigawatt hours - enough to power 4 million homes - by 2010. It also recommended the amount of power derived from renewable energy sources, such as wind and the sun, continued to expand at the same rate but not exceed 20,000GWh in 2020.

The renewables industry was highly critical, arguing that implementation of the report could represent a real reduction in the percentage of Australia's energy needs derived from renewable sources.

The Government will not announce its decision on MRET until an energy statement later this year.

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