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Renewable target cuts would deliver billions to gentailers as power prices soar

Scrapping or winding back Australia’s Renewable Energy Target would lead to significant increases in electricity prices, while delivering a windfall profit to power companies of as much as $70 billion, according to new analysis from Bloomberg New Energy Finance.

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Facts about Solar and the Small-scale Renewable Energy Scheme

Solar on more than 2 million roofs – More than 2 million solar installations have been supported by the Renewable Energy Target as of 31 January 2014 – 1,176,000 solar PV systems and 845,000 solar hot water systems. This means that 24 per cent of the 8.4 million occupied private dwellings in Australia have a solar system.

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