The Government Passes RET Reduction Bill
The Government Passes RET Reduction Bill (at last)
Last night Tony Abbot’s government passed legislation that slashes the Renewable Energy Target from 41,650 GWh to 33,000 GWh by 2020.
The Good News
- Domestic and commercial solar in Australia is safe for the time being.
- There has been no change at all to the small-scale solar Photovoltaic scheme.
- STC’s remain unchanged.
- The 100kW threshold for small-scale solar remains unchanged.
- The scheme is not being phased out early. The two yearly reviews have been scrapped.
- Residential and commercial customers can have confidence to buy and install rooftop solar right now.
- Commercial solar from 10kW to 100kW remains open for business.
However I do not expect this to be the end of the government’s attacks on the solar industry. The Prime Minister could not have been clearer about his government’s intention to rollback all renewables. He has clearly said that if he ever gets the chance to scrap the RET he will.
Now is the time to buy solar.