 What’s next for the Renewable Energy Target – resolving Australia’s integration of energy and climate change policy?Tim Nelson, Tahlia Nolan and Joel Gilmore Australian Journal of Agricultural and Resource Economics, 2021, vol. 66, issue 01 Abstract: Australian climate change policy and its integration with Australia’s electricity markets have been fraught for at least two decades. The only enduring policy has been the Commonwealth Renewable Energy Target (RET). Despite the relative success of the RET in driving investment and reducing emissions, state governments have now pivoted towards contracts-for-difference (Cfds). In this article, we outline the issues associated with policy discontinuity and the large-scale RET and review its effectiveness as an emissions reduction tool and driver of electricity sector abatement. We find that the RET has been relatively successful across the key criteria of cost and emissions reductions and is a better policy instrument than contracts-for-difference, which are increasingly being adopted by state governments. Building on the work of Nelson et al. (2020), we propose a new approach, which would allow for continued use of Cfds but utilising the RET’s policy architecture. Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ags:aareaj:342994 Access Statistics for this article More articles in Australian Journal of Agricultural and Resource Economics from Australian Agricultural and Resource Economics Society Contact information at EDIRC. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.