SYDNEY, Friday May 23, 2008: The Productivity Commission has greatly underestimated the role of a strong Mandatory Renewable Energy Target (MRET) in supporting Australia's growing renewable energy industry.

Greenpeace Climate and Energy campaigner Simon Roz said Australia urgently needed to encourage the deployment of all renewable energy technologies.

"The MRET will ensure that this happens by sending an essential investment signal that will drive a thriving renewable energy industry," Roz said.

The immediate uptake of renewable energy is required to reduce our greenhouse gas emissions in the next decade.

"Without a strong MRET, the Emissions Trading Scheme may only serves to move Australia's fossil fuel use from coal to gas," Roz said.

"This will not be enough to deliver the significant emission reductions that are required to avert dangerous climate change.

"A strong MRET is a vital tool in freeing Australia from the shackles of the coal industry as it will help renewable energy technologies become cost competitive more quickly."

For too long the renewable energy technologies have been unfairly locked out of the market through distortions and subsidies.

The Renewable Energy industry has already received a blow with the Rudd Government's disappointing Budget decision to restrict the solar rebate to households earning under $100,000 a year.

However, the Productivity Commission's comments on the need to include fuels in an Emissions Trading System and reviewing perverse polices that encourage car use, such as the FBT are constructive.

"Greenpeace is urging Garnaut Review on Climate Change to treat the Productivity Commission's statement with a healthy dose of scepticism," Roz said.

Author / Source / Credit: Greenpeace International

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