168
M. U. Ukponu et al.
create or designate a regulatory body to drive the implementation of the
law. Australia and Germany are typical examples of countries that have
enacted separate RE laws.
119 Through a total of AU$20 billion in investments at the end of 2019, Australia achieved a 24% RE integration into
its energy mix, surpassing its policy target of 23.5% by 2020.
120 This
remarkable feat is largely due to the government’s successful implementation of its Renewable Energy Target (RET) which had been enjoying
substantial background support from Australia’s RE law.
121 Similarly,
the enactment of an RE law in Germany is heralded as a milestone in
the transition to low-carbon energy known as Energiewende. This move
has helped the German government to set legal and policy mechanisms
in place to stimulate capital raising and substantial investments in RE
infrastructure through auction schemes and the capital market.
122 Other
positive outcomes achieved in Germany through its RE law includes
an average of 80% RE generation rate with 100% electricity generation
from REs in May 2018.
123
The aim of enacting a separate law to regulate REs, just like any other
sector or industry, would be to ensure regulatory certainty and perhaps
draw special focus and attention of all relevant stakeholders to play welldefined statutory roles for RE development. A RE law would ultimately
send the right signals to investors about the government’s special focus on
RE development. It presents an opportunity for the government to fully
119 Renewable Energy (Electricity) Act (Cth) (Australia); Renewable Energy Sources Act 2017
(Germany).
120 Clean Energy Regulator, Renewable Energy Target Annual Statement 2018–2019, http://
www.cleanenergyregulator.gov.au/DocumentAssets/Documents/Clean%20Energy%20Regu
lator%20Annual%20report%202018%E2%80%9319.pdf; Clean Energy Regulator, ‘The 2018
Renewable Energy Target Annual Statement—Progress Towards the 2020 Target’ (4 April
2019),
http://www.cleanenergyregulator.gov.au/About/Pages/Accountability%20and%20repo
rting/Administrative%20Reports/The-2018-Renewable-Energy-Target-Annual-Statement-%E2%
80%93-Progress-towards-the-2020-target.aspx.
121 Renewable Energy (Electricity) Act (Cth) (Australia), s 3.
122 Markus Bohme and Carsten Bartholl, ‘Germany’ in Karen B Wong (ed), The Renewable
Energy Law Review (Law Business Research, 2019) 45.
123 Jeremy Berke, ‘Germany Paid People to Use Electricity Over the Holidays Because Its Grid
Is So Clean’ Business Insider (29 December, 2017), https://www.businessinsider.com/renewa
ble-power-germany-negative-electricity-cost-2017-12?IR=T; Giles Parkinson, ‘Germany Reaches
100% Renewables for a Few Hours, 42% So Far This Year’ Renew Economy (4 May, 2018),
https://reneweconomy.com.au/germany-reaches-100-renewables-hours-42-far-year-30642/.
M. U. Ukponu et al.
create or designate a regulatory body to drive the implementation of the
law. Australia and Germany are typical examples of countries that have
enacted separate RE laws.
119 Through a total of AU$20 billion in investments at the end of 2019, Australia achieved a 24% RE integration into
its energy mix, surpassing its policy target of 23.5% by 2020.
120 This
remarkable feat is largely due to the government’s successful implementation of its Renewable Energy Target (RET) which had been enjoying
substantial background support from Australia’s RE law.
121 Similarly,
the enactment of an RE law in Germany is heralded as a milestone in
the transition to low-carbon energy known as Energiewende. This move
has helped the German government to set legal and policy mechanisms
in place to stimulate capital raising and substantial investments in RE
infrastructure through auction schemes and the capital market.
122 Other
positive outcomes achieved in Germany through its RE law includes
an average of 80% RE generation rate with 100% electricity generation
from REs in May 2018.
123
The aim of enacting a separate law to regulate REs, just like any other
sector or industry, would be to ensure regulatory certainty and perhaps
draw special focus and attention of all relevant stakeholders to play welldefined statutory roles for RE development. A RE law would ultimately
send the right signals to investors about the government’s special focus on
RE development. It presents an opportunity for the government to fully
119 Renewable Energy (Electricity) Act (Cth) (Australia); Renewable Energy Sources Act 2017
(Germany).
120 Clean Energy Regulator, Renewable Energy Target Annual Statement 2018–2019, http://
www.cleanenergyregulator.gov.au/DocumentAssets/Documents/Clean%20Energy%20Regu
lator%20Annual%20report%202018%E2%80%9319.pdf; Clean Energy Regulator, ‘The 2018
Renewable Energy Target Annual Statement—Progress Towards the 2020 Target’ (4 April
2019),
http://www.cleanenergyregulator.gov.au/About/Pages/Accountability%20and%20repo
rting/Administrative%20Reports/The-2018-Renewable-Energy-Target-Annual-Statement-%E2%
80%93-Progress-towards-the-2020-target.aspx.
121 Renewable Energy (Electricity) Act (Cth) (Australia), s 3.
122 Markus Bohme and Carsten Bartholl, ‘Germany’ in Karen B Wong (ed), The Renewable
Energy Law Review (Law Business Research, 2019) 45.
123 Jeremy Berke, ‘Germany Paid People to Use Electricity Over the Holidays Because Its Grid
Is So Clean’ Business Insider (29 December, 2017), https://www.businessinsider.com/renewa
ble-power-germany-negative-electricity-cost-2017-12?IR=T; Giles Parkinson, ‘Germany Reaches
100% Renewables for a Few Hours, 42% So Far This Year’ Renew Economy (4 May, 2018),
https://reneweconomy.com.au/germany-reaches-100-renewables-hours-42-far-year-30642/.