Victorian Renewable Energy Target (VRET)

The Victorian Renewable Energy Target (VRET) is a government initiative in Victoria, Australia, aiming to increase the share of renewable energy in the state's electricity supply. It sets a specific goal—by a certain year—to ensure a defined percentage of power comes from clean sources like wind and solar. This encourages investment in renewable projects, reduces reliance on fossil fuels, helps lower greenhouse gas emissions, and supports the transition to a sustainable energy future. The VRET also promotes economic growth and job creation within the renewable energy sector.