Part 1: Revenue Measures (Continued)
Climate Change and Energy Efficiency
Renewable Energy Target — reduction of the solar credits multiplier
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The Government will bring forward by one year, to 1 July 2013, the scheduled phase‑out of the solar credits multiplier under the Renewable Energy Target. For systems installed between 1 July 2011 and 30 June 2012, the multiplier will be reduced to a factor of three, and for systems installed between 1 July 2012 and 30 June 2013 the multiplier will be reduced to a factor of two.
This measure will result in the Government receiving less revenue from fees for the creation and surrender of Renewable Energy Certificates and from the Renewable Energy Shortfall Charge. This will involve a cost to revenue estimated to be $11.9 million over four years.
See also the related expense measure titled Renewable Energy Target — implementation of legislative amendments.
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