Australia’s parliament on Thursday passed a nationwide renewable portfolio standard (RPS), requiring the country to produce 20% of its electricity from renewable resources by2020.
Meeting the target will require the installation of about 11,000 megawatts (MW) of renewable power, which would represent an investment of about $22 billion, according to a Reuters report.
Like President Obama in the U.S., Australian Prime Minister Kevin Rudd is working to overcome conservative opposition to a climate change bill that would create a carbon trading scheme to drive down greenhouse gas emissions. Both heads of state want to pass climate change legislation before U.N. negotiations in Copenhagen in December.
Pressure has been building in the U.S. Senate to split out of climate change legislation for passage as a separate energy bill, similar to what the Australians did.
Read Reuters coverage of Australia’s RPS, including a breakdown of potential renewables, costs and major players, at the link below.
Loading...