Australian Government to set up renewable energy agency
The Australian Government is to spend Aus$6.5 million over the next four years setting up a renewable energy agency.
The agency will be charged with bringing Australia’s renewable energy generation levels up to the national target of 9,500 GW hours a year by 2010.
To achieve this, wholesale purchasers of electricity will be legally required to source increasing amounts of electricity from renewable energy sources. Legislation is being drafted to allow this measure to begin on 1 January next year.
The achievement of Australia’s renewable energy target will result in the reduction of approximately 5.5 million tonnes of greenhouse gases by 2010, says the Government. “This measure is part of a strategic approach to addressing the problem of climate change. It guarantees a market for new renewable energy which provides a boost to this developing industry,” said Federal Environment and Heritage Minister Senator Robert Hill.
The new agency will oversee the implementation of the renewable energy target. It will be a separate statutory authority set up by legislation likely to be introduced to the Australian Parliament in the winter sittings.