Large-scale Renewable Energy Target and the Small-scale Renewable Energy Scheme
The Large-scale Renewable Energy Target (LRET) creates a financial incentive for the establishment or expansion of renewable energy power stations, such as wind and solar farms or hydro-electric power stations. The Australian Government set the LRET at 33,000 gigawatt hours of additional renewable energy generation by 2020. In September 2019, the Clean Energy Regulator announced that Australia had met the LRET ahead of schedule.
The Small-scale Renewable Energy Scheme (SRES) creates a financial incentive for households, small businesses and community groups to install eligible small-scale renewable energy systems such as solar water heaters, heat pumps, solar photovoltaic (PV) systems, small-scale wind systems, or small-scale hydro systems.
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