Various reports from our friends Down Under indicate Australians have also been looking at readily available alternatives to the use of non-renewable, greenhouse gas emitting forms of energy. And decided using less energy overall is the first and easiest step to take.

This report from an Warm Home Cool Planet colleague visiting Queensland:

One of the best things I’ve noticed, which is all over the place on TV and billboards, is the ClimateSmart Home Service. It’s run by the Queensland Government to save energy, money and the environment, and is part of the ClimateSmart Living Intitiative. For just $50 a qualified and licensed electrician comes to your home to install a wireless energy monitor for you to keep and conduct a constant energy audit of your home. You also get free water-and-energy efficient shower heads, and up to 15 free energy efficient light bulbs.

There is, however, another reason why are utility company trucks are prowling the streets of Australia’s capital cities handing out free Compact Fluorescent Light Bulbs.

If Australia continues to grow demand for electricity at historic rates, energy retailers will need to generate 70,000 GWh/year in renewable energy to meet the Australian Government’s 2020 Mandatory Renewable Energy Targets (MRET). Penalties will be up to $40 for every MWh they fall short.

With current renewable energy generation in Australia around 25,000 GWh/y, tripling the amount of renewable energy on the grid over the next 1o years will be challenging to say the least. Energy retailers have decided that helping consumers to reduce their energy consumption should dampen overall energy demands,  making MRETs more achievable.

With Obama Administration’s stated intention to focus on energy policy as soon as the current economic crisis subsides, will Renewable Energy Targets soon be enacted here? If they are, look for the price of Renewable Energy Credits (RECs) to skyrocket.