Carbon package will turbo charge clean energy

10 July 2011

The carbon price package announced today is a “once in a generation” opportunity to transform Australia’s energy sector and create clean energy jobs and investment, according to the industry’s peak body The Clean Energy Council.

Clean Energy Council Director of Strategy Kane Thornton said putting a price on carbon pollution and directing a substantial portion of the carbon price revenue to renewable energy and energy savings would “turbo charge the clean energy sector”.

“It will create $100 billion in investment to 2050, creating new jobs for future generations,” he said.

“The carbon price scheme proposed should give renewable energy companies and investors the long term certainty that investment in clean energy is an investment in the future. It will support the accelerated roll out of proven clean energy technologies like solar power, wind power and bioenergy while also allowing Australia to develop new technologies like geothermal, ocean and large scale solar.

“Along with the existing 20 per cent Renewable Energy Target and arrange of other existing policies, the new initiatives announced today will give us what we need to deliver action on carbon pollution and transition Australia to a clean energy future.

“Clean energy has come a long way in the last decade and we look forward to showing this nation what we can achieve in the national interest.

“We would like to congratulate the Federal Government , the Greens and the Independents for their hard work on developing this package through the Multi-Party Committee on Climate Change,” he said.

Key announcements by the Federal Government today include the new $10 billion Clean Energy Finance Corporation, which will use carbon price revenue to leverage private sector investment in early stage clean energy technology.

Mr Thornton said the Clean Energy Finance Corporation was something the Clean Energy Council had been promoting for some time, to ensure Australia takes advantage of its competitive advantage in a whole range of renewable energy technologies.

“This is a critical reform to address decades of under-investment in clean energy. The establishment of the Clean Energy Finance Corporation and the Australian Renewable Energy Agency as independent bodies will help to insulate it from the political cycles of the day and keep it focused on providing maximum value for investment dollars and the clean energy sector,” he said.

“We look forward to working with the government, the Greens and the rest of the MPCCC on key aspects of these announcements to ensure they are legislated and implemented to maximise outcomes for the clean energy sector.

“We also welcome the commitment to further work on a National Energy Savings Initiative. It is both good policy and plain common sense to match a carbon price with measures to help households and business better manage their electricity bills,” he said.

Mr Thornton said a legislated carbon price would help to give the whole power industry the stability required to invest in new generation assets for the future.

“The uncertainty surrounding this issue to date has stifled new investment and we look forward to the cleaner energy investment that this package will deliver.”

For more information or to arrange an interview, contact Clean Energy Council Media Manager Mark Bretherton on 0413 556 981

The Clean Energy Council is the peak body for the clean energy sector. It is a not-for-profit organisation that provides a unified voice for more than 500 solar, wind, hydro, wave, bioenergy, geothermal, cogeneration and energy efficiency companies. It is funded through membership fees.

For more information or to arrange an interview, contact Clean Energy Council Media Manager Mark Bretherton on 0413 556 981