"The new target for large-scale generation of 33,000 GWh in 2020 will double the amount of large-scale renewable energy being delivered by the scheme compared to current levels and means that about 23.5 per cent of Australia’s electricity generation in 2020 will be from renewable sources."
"Since January 2011 the RET scheme has operated in two parts—the Small-scale Renewable Energy Scheme (SRES) and the Large-scale Renewable Energy Target (LRET)." "The LRET includes legislated annual targets which will require significant investment in new renewable energy generation capacity in coming years. The large-scale targets ramp up until 2020 when the target will be 33,000 gigawatt-hours of renewable electricity generation." "The SRES creates a financial incentive for households, small businesses and community groups to install eligible small-scale renewable energy systems such as solar water heaters, heat pumps, solar photovoltaic (PV) systems, small-scale wind systems, or small-scale hydro systems. It does this by legislating demand for Small-scale Technology Certificates (STCs)."
"RET-liable entities with an obligation under the LRET also have a legal requirement under the SRES to buy STCs and surrender them to the Clean Energy Regulator on a quarterly basis." (Source: https://www.environment.gov.au/climate-change/renewable-energy-target-scheme)