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COMPROMISE APPEARS LIKELY ON AUSTRALIA'S RENEWABLE ENERGY TARGET

09/15/2014

After the Australian Parliament appeared poised to dramatically scale back the country’s Renewable Energy Target (RET) to source 20% of electricity from renewable sources by 2020, a compromise more favorable to supporters of renewable energy now appears likely following intense lobbying in Canberra. A review of the RET, headed by businessman Dick Warburton, argued that the RET be closed to new projects or dramatically scaled back. But those options have been largely dismissed by both renewable energy and government supporters. Many politicians who had initially supported closing the RET to new projects are now moving away from that position as a result of fallout from the renewable energy industry and the Labor Party, which want little or no change to the target. A compromise, which has been called "real 20%," would reduce the target to reflect falling electricity demand and is now gaining support. For the full story, see: http://www.smh.com.au/environment/government-might-give-ground-on-renewable-energy-target-20140906-10dbvp.htmlhttp://www.theguardian.com/environment/2014/sep/08/government-retreats-on-renewable-energy-target-closure