RET Indecision Impacting Manufacturers.

The delay by the Abbott government to complete the Renewable Energy Target RET review is hurting manufacturers across Australia. Wind tower maker KPE has had to reduce its staff from 380 to 265. The review began in February 2014. The Clean Energy Council CEC has called on the government to end the impasse with Labor and the Greens because it has caused indecision, job losses and almost 90% of the investment to disappear. The CEC wants billions to be invested into this sector and the creation of thousands of new jobs. It wants Australia to transform to smarter, cleaner energy such as solar, wind, bio energy, geothermal, marine, etc. The current target for large-scale renewable energy is 41,000GWh in Australia by 2020. This was set by the previous Labor Government in 2010. The RET Review Committee concluded that the current target won’t push up power prices. However, the Abbott government and Federal Opposition and Greens are disagreeing on what the target should be. CEC says the uncertainty has damaged investors with many of them losing confidence in Australia as a safe investment destination.