Antinuclear

Only future for electricity companies is to take advantage of Renewable Energy Target

Australia’s entire power sector should support the RET, The Conversation, Ariel Liebman, 6 Nov 14 

 “……..The Coalition government has announced its position: to reduce the Renewable Energy Target to a “real 20%” — or 20% of the expected electricity demand in 2020. This will result in a cut to around 27,000 gigawatt hours from the current target of 41,000 gigawatt hours.

But with demand falling and a significant oversupply of electricity, the RET is vital for stimulating investment in the electricity sector, not just renewables.

At the moment, there is a massive split between the proponents of renewables development and those who see increased penetration of renewables as a threat to their business.

Opponents appear to have the upper hand, with the government pushing to have the 20% target reduced to a “real” target that would be much lower……………

As demand is shrinking, all players need a policy that stimulates investment. Without the RET, there will be no incentive to build any power plants at all! The market is oversupplied and will continue to be for perhaps another seven to ten years.

Taking advantage of the RET and the other new technologies is the only way modern electricity utilities can innovate, grow and successfully compete in a rapidly changing environment. Freezing the RET would be a false win for its opponents.http://theconversation.com/why-australias-entire-power-sector-should-support-the-ret-33464

November 8, 2014 - Posted by Christina Macpherson | General News