Labor took a comprehensive plan to the election to address Australia’s energy future; with a target to achieve 50 per cent of Australia’s energy from renewable sources by 2030.
Labor’s commitment has not changed. 50 per cent is our target and we are sticking to it.
Three quarters of Australia’s electricity generation fleet are operating beyond their design life. Critical energyinfrastructure needs to be replaced – and the cheapest, cleanest source of new power is renewable energy.
Our renewables target will boost private investment in Australia by nearly $50 billion. It will put downward pressure on power bills and is estimated to create nearly 30,000 new jobs.
A big part of reaching our 2030 target is through an Emissions Intensity Scheme. All the experts – like the CSIRO and the Australian Energy Markets Commission – say this is the cheapest way to cut pollution. It’s also good for power bills – it will save households and businesses $15 billion in energy costs over the next 10 years.
Unfortunately Malcolm Turnbull has been talking down renewable energy and has ruled out an Emissions Intensity Scheme. This is bad news – even his own former energy adviser has warned it means power bills will go up, electricity will be less reliable and pollution will grow.
Malcolm Turnbull says his plan is to invest taxpayer money in new coal-fired power stations. Even the big polluters think this is a bad idea. The industry has called new coal “uninvestable” and the climate scientists have warned we’ll miss our obligations under the Paris climate change agreement.
Modelling by the University of Melbourne has also estimatedthat replacing old coal-fired power stations with new coal would cost $62 billion. So it’s a lot dirtier and a lot more expensive.
Labor believes in cleaner, cheaper power which encourages new investment and new jobs – that’s why we’re backing renewable energy all the way.
We will keep fighting for 50 per cent renewables by 2030. It’s for the economy, it’s good for jobs and it’s good for the environment.