One of the biggest changes impacting our economy will be climate change. This is driving the most profound restructuring of the world economy this century – the transition from fossil fuel based energy to renewable energy. This is not a theoretical issue – it is happening now and it is accelerating.
A Shorten Labor Government understands the fundamental importance of this transition and the massive opportunities that it brings. We will put a strong renewable energy sector at the centre of Australia’s response to the challenge of climate change. This will create jobs, drive investment and push down power bills for families and small businesses.
The Liberal Government has done everything in its power to try and destroy Australia’s share in one of the world’s fastest growing industries with devastating consequences for our country. When in power, Tony Abbott undermined the Small-scale Renewable Energy Scheme and the Large-scale Renewable Energy Target. The Liberal Government has tried to abolish the Clean Energy Finance Corporation who have mobilised $2.20 of private sector investment for every dollar it has invested in Australian clean energy projects. They have also tried to abolish the Australian Renewable Energy Agency thereby destroying our substantial R&D successes and, with his Treasurer, made embarrassing statements about the ‘aesthetics’ of renewable energy.
Our ambition is for Australia to be a front runner in renewable energy investment, lowering power prices, reducing pollution and importantly creating jobs to add to the 20,000 who currently work in the renewable energy sector. Most other major countries have ambitious renewable energy targets – and they are meeting them. And so will Australia under Labor’s strong leadership.
Comparison of Renewable Ambition
DENMARK 50% by 2020
CALIFORNIA 50% by 2030
GERMANY 55 – 60% by 2035
SWEDEN 63% by 2020
NEW ZEALAND 90% by 2025
NORWAY 114% by 2020
Source: Ren21 2015 Global Status report; International Energy Australia, State of California
*** Labor’s plan
Labor wants to see 50 per cent of our electricity generated from renewable sources by 2030. This includes not just large-scale renewables but small and industry based generation. We want to see solar panels become the norm on the roof-tops of Australian homes and businesses, with millions more to be built and installed over the next 15 years.
We want to see battery technology continue to improve so that electricity from solar panels can be stored in most homes and small businesses to lower power bills. We want to make sure that investors in windfarms and other renewable energy generators can be confident about investing.
The renewable energy and energy storage industries present an enormous economic opportunity of the next several decades. More investment in renewable energy will lead to:
. More jobs for Australians
. Lower power bills for families and small business
. Reducing pollution and decarbonising our economy
ALP Fact Sheet: Viewed Oct 2015
Key Words: Climate Change, OzPolitics
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