Victoria became the first state to have a Renewable Energy Target (RET) written into law on October 20. The Victorian RET has been set at 25% renewable energy by 2020, and 40% by 2025. This will cut household power costs by $30 a year, reduce emissions by 16% and create up to 11,000 jobs.
All Labor-governed states and territories have RETs that are more ambitious than the federal government’s goal of 20% by 2020. Queensland and the Northern Territory have set theirs at 50% by 2030; South Australia at more than 50%; and ACT at 100% by 2020.