PM announces review into RET (renewable energy target)

Solar News Update 21st February 2014

The federal Government has just announced a review of the RET (Renewable Energy Target) that is currently set at a goal of 20% of Australia’s electricity to be supplied via clean power such as Solar or Wind by 2020. This is the basis of the subsidies that currently apply to solar.

The PM announced that the review into the RET scheme will be a headed by long time coal power advocate Dick Warburton, so many are predicting the end of the RET in the near future. If the RET goes so does the STC”s, that means solar customers will be paying about $3,500 more on a 5kW solar power system.

So if you think as many do that this may happen, get in and buy a solar power system if you don’t already have one