The Australian Government's announcement today to formally ratify the Paris commitment on climate change is a strong and symbolic gesture welcomed by clean energy investors eager to support the transition of Australia's electricity sector.
Clean Energy Council Chief Executive Kane Thornton said renewable energy, storage and energy efficiency all had important roles to play in helping Australia meet its ambitious emission reduction commitments over the next 15 years.
“It’s essential for Australia’s credibility on the international stage and for the confidence of investors that the Commonwealth Government develops and implements climate policies that extend beyond the end of this decade,” Mr Thornton said.
“Major international investors want to invest in Australian clean energy, but they need a secure and long-term policy framework. The Renewable Energy Target stops encouraging major projects in 2020 and the Emissions Reduction Fund has a short shelf life.
“The review of the Federal Government’s climate policies in 2017 is a huge opportunity to re-calibrate our approach to energy and climate and develop a bipartisan long-term approach to a complex issue.
“A lot of people are looking nervously at what Donald Trump will do as the President of the United States, but simple economics dictate that the rapid fall in cost of renewable energy such as solar and wind means they make sense to progressively replace old and inefficient coal-fired power plants as they are retired.
“The clean energy sector has gathered momentum across the globe over the last few years, and the cost reductions, combined with the need to reduce emissions, will combine to ensure this continues.”
Please contact Clean Energy Council Media Manager Mark Bretherton on 0413 556 981 for more information or to arrange an interview.