Want to know what a 50% RET does to grid stability and power prices, then look no further than South Australia.
Despite some desperate wind industry propaganda efforts suggesting that South Australians are currently enjoying 1970s power prices, Australia’s renewable energy capital still pays the world’s highest power prices – thanks to its ludicrous 50% Renewable Energy Target.
SA’s 50% RET was the product of an unhinged state Labor government. At the last Federal election, Bill Shorten campaigned on a policy of delivering the South Australian ‘experience’ to every other state in the Commonwealth, with a 50% RET to be enforced nationwide.
The promise has long been that if we roll-out millions more solar panels and thousands more of these things – coupled up with mythical mega-batteries – power prices must surely plummet. They haven’t (see above); and there’s much worse to come.
Where Bill Shorten failed in his bid…
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