The renewable energy industry will not accept the Federal Government's latest renewable energy target (RET).

Industry Minister Ian Macfarlane says the Government offered to reduce the amount of clean energy required to meet the RET to a number around the low to mid 30,000 gigawatt hours range.

This target would have to be hit by the year 2020.

Macfarlane said the Government wanted the industry to choose between the new offer, or the existing scheme of 41,000 gigawatt hours.

But the industry does not want to choose.

Clean Energy Council spokesperson Kane Thornton said either option would devastate the industry.

“If the scheme is left as-is without a long-term commitment from both major parties then unfortunately we'll have investment and consumer freeze,” Ms Thornton said.

“With the proposal put forward by the Minister there is no confidence the policy will remain as-is.”