Environment Business Australia (EBA)

Government initiative to split the Renewable Energy Target (RET) has been welcomed by Fiona Wain CEO of the EBA.

"This gives clarity to investors that the RET will encourage large scale renewable energy projects.  Separating large scale and small scale renewable energy projects signals that Australia has confidence that existing and emerging  technologies can deliver  large scale renewable energy projects."

EBA is proposing that renewable energy be scaled up over time to include manufacturing and minerals processing as well as baseload electricity.  Planning for combined renewable energy sources such as geothermal, wind, marine and solar thermal with a high voltage direct current (HVDC) grid and smart grid connectors could see Australia emerge as an international powerhouse for clean energy and satisfy growing market demand for green goods and services.

"Renewable energy is one of 5 key approaches we have identified to building the new markets, new industries, and new jobs that will underpin Australia's next competitive edge" added Fiona Wain.

The other approaches identied by EBA are:

• Economy-wide energy, materials and resources efficiency
• Smarter cities and transport systems
• Two biosequestration (Bio-CCS) projects
• Drawing legacy carbon from the atmosphere and rebuilding agricultural soils
• Capturing  CO2 from coal-fired power plants and using algal synthesis producing diesel, animal meal, plastics, and soil fertiliser.