The Renewable Energy Act establishes the legal, economic and institutional basis to promote the use of renewable energy resources.
Section 3 of the Act defines the responsibilities of the Ministry of Energy, which include - but are not limited to - the recommendation of national targets for the use of renewable energy resources, the determination of the equipment that is eligible for tax exemption, the establishment and management of a registry to monitor renewable energy facilities.
Section 4 of the Act states that the Ministry shall recommend middle and long-term national targets for the use of renewable energy resources in electricity generation, which may include targets related to geographic location and diversity.
Section 5 of the Act creates the Renewable Energy Fund that will be managed by The Public Utilities Regulatory Authority. The objectives of this fund include the "promotion, development, sustainable management and utilisation of renewable energy sources", the provision of economic instruments to foster renewable energy projects, the development of infrastructure for renewable energy, and the capacity building for renewable energy development.