Pressure mounts to settle uncertainty over Mandatory Renewable Energy Target

Australia's federal government has been accused of prolonging the uncertainty in the renewable energy industry after failing to publish its long awaited final review report on the Mandatory Renewable Energy Target (MRET) at the end of September, as originally planned. Meg Lees, South Australia's Progressive Alliance Senator, is urging government to release the report immediately, warning that further stalling could have serious consequences for the industry. "The renewable energy industry needs the information in the report to plan its investment for the future. A significant amount of investment in renewable energy is on hold, pending the outcome of the review," she says, naming a potential factory for wind turbine blade manufacture in Tasmania as an example. While the environmental benefits of using more renewable forms of energy and relying less on fossil fuels are obvious, "less widely appreciated are the economic benefits for a range of Australian businesses, which in turn could mean an enormous boost for entire regions," she adds. "Along with Australia's renewable energy industry, I am hoping the government's review will commit to increasing the target to 10%." The MRET currently requires just 2% of Australia's electricity to be sourced from renewable energy.