New Energy World Network: Connecting Investors, Innovators & Deal-Makers worldwide
New Energy World Network: Connecting Investors, Innovators & Deal-Makers worldwide
The Australian Parliament recently approved a renewable energy law that requires that renewable sources supply 20 per cent of the country's electricity by 2020. Previously, the Mandatory Renewable Energy Target (MRET) set a target of generating 9.5 billion kilowatt hours of electricity, which the government expected to achieve by 2010. The new standard provides AU$22bn (US$18.5bn) of investment support for the renewable energy industry to produce 45 billion kilowatt hours of renewable energy by 2020, writes Ben Block of the Worldwatch Institute.
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