RET refers to Australia's Renewable Energy Target which was implemented by the Australian Federal Government in August 2009. The RET is designed to deliver on the Government's commitment to ensure that 20 per cent of Australia's electricity supply will come from renewable sources by 2020. The RET expands on the previous Mandatory Renewable Energy Target (MRET), which began in 2001.
In June 2010, the Federal Parliament passed legislation to separate the RET into two parts to commence on 1 January 2011 – the Large scale Renewable Energy Target (LRET) and the Small scale Renewable Energy Scheme (SRES). These changes are in order to provide greater certainty for households, large-scale renewable energy projects and installers of small-scale renewable energy systems.
The Office of the Renewable Energy Regulator (ORER) administers both parts of the new RET scheme.
March 29, 2015, 12:01 pm