Labor to renegotiate renewables policy

Labor will renegotiate renewable energy target policy as part of its plan to ensure half Australia's energy comes from clean sources by 2030.

Opposition Leader Bill Shorten is optimistic he can create longer-term stability in the bipartisan RET, which sets a renewable target by 2020 and was slashed last year after an Abbott government review.

"We will renegotiate that but we will do it in a basis of reaching out to the opposition because hopefully we'll be the government," he told reporters near Canberra on Tuesday.