The Greens' renewable energy target (RET) proposal will cripple households and small businesses already struggling with increasing electricity costs, according to Queensland Nationals Senator Ron Boswell.
“Senator Milne's proposal to expand annual targets under the RET scheme to account for solar hot water heaters and the 'Solar Credits' multiplier would more than double the cost of the RET, which is funded through cross-subsidies that are ultimately paid by households and businesses,” Senator Boswell said.
“Last year, almost 9 million out of a total of 15 million Renewable Energy Certificates (RECs) were created from the installation of solar hot water heaters and small generation units (Renewable Energy Regulator).”
“If Senator Milne has her way, most of these 9 million certificates, which have already found their way into electricity bills, would no longer contribute toward meeting annual targets under the RET.”
“What Senator Milne is out there asking for, is for mums and dads to put their hands back into their pockets and fork over another $30, $40 or $50 million to pay for new certificates. And this is just for the certificates created last year.”
“The RET scheme continues for another 20 years and as the annual targets progressively ramp up, from 11,350 megawatt hours in 2010 to 45,850 megawatt hours in 2020, so too will the cost of Senator Milne's proposal.”
“I am very sympathetic to the idea of increasing renewable energy; however we cannot do this at a cost that will drive high energy using companies’ off-shore.”
Renewable Energy Regulator - https://www.rec-registry.gov.au/