The Australian Senate has recently passed a bill that has put the renewable energy industry in the country in jeopardy. The Renewable Energy Target (RET) bill has been passed, which means that the target of 33,000 GWh of renewable energy by 2020 is still in place. However, the legislation has also included a proposal to cut the target from 41,000 GWh, which puts the wind energy sector under significant pressure.

The RET bill has been a contentious issue for quite some time now, as the Abbott government has been consistently trying to reduce the target. The government had initially proposed cutting it to 26,000 GWh, but after significant pushback from the public and the renewable energy industry, the target was raised to 33,000 GWh. However, the legislation has included a provision that allows for the target to be reviewed every two years, which means that the Abbott government still has the power to reduce it further.

The passage of the bill has been met with disappointment from the renewable energy industry, especially the wind sector. The wind industry relies heavily on the RET to provide funding for its projects, and the cut to the target puts many of these projects at risk. According to industry experts, the cut to the target will result in the loss of thousands of jobs in the sector, and will also deter investors and project developers from investing in Australia.

Furthermore, the veneer of certainty for the wind industry is paper thin. The inclusion of a provision to review the target every two years means that the industry will always be in a state of uncertainty, which will make it difficult for them to plan and invest in long-term projects. This lack of certainty will also discourage the industry from developing new technologies and innovations, as they will always be unsure of the government's commitment to the sector.

The passage of the RET bill is a clear victory for the Abbott government, but it is not a victory for the country. Australia has some of the best renewable energy resources in the world, and the reduction of the RET target means that the country is not fully utilizing these resources. The reduction of the target also means that Australia is falling behind other countries in the development of renewable energy technologies and innovations.

In conclusion, the passage of the RET bill is a significant setback for the renewable energy industry in Australia. The cut to the target puts the wind industry under significant pressure, and the provision to review the target every two years means that there is little certainty for the industry. The Abbott government needs to recognize the importance of the renewable energy industry and take steps to support it, rather than hinder its growth. Australia has the potential to be a leader in renewable energy, and it's time for the government to realize this potential and take action.