ABBOTT GOVERNMENT PLAN WOULD RUIN RENEWABLE ENERGY

                                   

Mark Butler

Shadow Minister for Environment
 Climate Change and Water

Date:  22 October 2014

The Abbott Government’s plan to cut the Renewable Energy Target by more than 40 per cent will ruin the renewable energy industry, cost thousands of jobs and see investment move offshore.

Labor rejects this proposal.

The Abbott Government has tried its hardest to destroythe industry with its politically-motivated Warburton Review and its adoption of one of the Review’s recommendation stands to be devastating news for renewable energy businesses.

Labor’s legislated RET of 41,000GWh by 2020 is an overwhelming policy success. Jobs in the sector have tripled, there has been more than $18 billion in investment and homes with solar panels has increased to 1.3 million.

In September 2013, Australia was ranked in the top four most attractive places to invest in renewable energy, with the US, China and Germany. Since Tony Abbott’s interference with the RET, Australia is now ranked 10^th.

The Abbott Government’s own modelling shows the RET will drive down power prices in the medium term.

Yet, despite the overwhelming evidence of its success, the Abbott Government is still looking to wind back the RET by more than 40 per cent.

Tony Abbott shattered the bipartisanship the industry has enjoyed for more than a decade when he walked away from the RET after the election and appointed a climate sceptic to head the RET Review.

We will continue to talk to the Government but Labor will not be party to a plan that kills jobs and investment, increases carbon pollution and forces power prices to rise.