Labor will protect Australia’s Renewable Energy Target (RET) by rejecting Tony Abbott’s plan to cut the target by 40 per cent which will kill thousands of jobs and billions in investment, as well as put upwards pressure on electricity prices.

 

Labor entered into discussions with the Government in a desperate attempt to re-establish bipartisan support for the Renewable Energy Target and protect Australia’s renewable energy industry.

 

Labor believes a strong Renewable Energy Target is a critical part of Australia’s response to climate change and transitioning our economy to a clean energy future.

 

The Renewable Energy Target has been the driving force behind billions of dollars in investment in clean energy and delivered thousands of new jobs in Australia.

 

Since its election, the Abbott Government has undermined confidence in the renewable energy sector, putting billions of dollars of investment and thousands of new jobs at risk by abandoning its commitment to the RET.

 

The Abbott Government has ensured that Australia is the only country in the world to reverse action on climate change – a fact that won’t be missed at G20 meetings in Brisbane this week.

 

Labor has today ensured that Australia’s Renewable Energy Target will remain in place.

 

After several meetings with Government Ministers, it was clear to Labor that the Abbott Government was committed to cutting the Renewable Energy Target by 40 per cent, putting existing and future projects in doubt.

 

A reduction of the Renewable Energy Target by 40 per cent would cost jobs, stall investment and see Australia’s electricity prices and carbon pollution rise.

 

In discussions with the Government, Labor proposed additional support for the aluminium industry and raised serious concerns about restrictions on the rooftop solar industry.

 

Labor will continue to fight for support for the aluminium industry and a strong rooftop solar industry.

 

In government, Labor established a policy framework that supports the growth of renewable energy in Australia. Since 2007 -

 

-       Renewable energy jobs tripled,

-       Homes with rooftop solar panels soared from 7,400 to 1.3 million, and

-       Pollution levels started to decline.

 

By 2013, Australia was rated one of the four most attractive places to invest in renewable energy, alongside China, the US and Germany.

 

Labor established the Australian Renewable Energy Agency and the Clean Energy Finance Corporation, both of which Tony Abbott is seeking to abolish. Labor will not support the abolition of either agency.

 

Already Tony Abbott has abandoned his own election commitment to provide $600 million in funding for Solar Towns and Schools programs by reducing the funding to $2.1 million and has scrapped the One Million Solar Roofs program entirely.

 

Tony Abbott has no commitment to meaningful action on climate change nor has he any interest in transitioning the Australian economy to a clean energy future.

 

By protecting the existing Renewable Energy Target, Labor has ensured that renewable energy has a role in Australia’s future.

 

WEDNESDAY, 12 NOVEMBER 2014

 

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