What is the relationship between the carbon price and Renewable Energy Target (RET)?
The Renewable Energy Target (RET) and the carbon price are both market mechanisms. They are designed to work together to ensure Australia meets its targets for deployment of renewable energy at the lowest economic cost. Put simply, a carbon price without a RET means Australia would not achieve its goal of having 20 per cent of electricity supply coming from renewable sources by 2020. And a RET without a carbon price, would increase the economic cost of achieving that goal.