The Australian Government has set a new renewable energy target of 23.5% by 2020 – less than what was previously announced.

That’s 33,000GWh of electricity production in the country.

The new goal follows a review of its Renewable Energy Target (RET) programme which was developed in 2010. It had initially set a target of generating 41,000GWh of green energy by the end of the decade.

Minister of Energy Ian MacFarlane said a report will be regularly issued by the Clean Energy Regulator outlining the progress of the scheme and the cost in terms of electricity prices to households.

Australia’s Minister of Environment Greg Hunt said: “What we’ve achieved I think is certainty for the renewable energy sector, the protection of jobs in the trade-exposed sector.

“I think that is absolutely critical – protection of jobs in the trade-exposed sector, which means blue-collar jobs, manufacturing jobs, jobs which rely on the creation of materials and the use of electricity which are exposed to competition from other countries and an effective Renewable Energy Target of 23.5%.

“So there is a very significant task. There is an enormous opportunity for the renewable sector going forward.”