TODAY’S FEDERAL GOVERNMENT announcement to back renewable energy by expanding the Capacity Investment Scheme (CIS) provides a clear plan to secure Australia’s clean energy future.
This smart investment will double the amount of renewable energy, like solar and wind, in Australia’s grid today. This will make our electricity system cleaner and more reliable while bringing down power bills and securing even more power sector jobs.
The Federal Government’s decision to expand the original 6 gigawatts of additional power planned under the scheme to 32 gigawatts will ensure the Government is on track to meet its renewable energy target, and puts Australia on the path to a fully renewable energy grid.
To put this in perspective, the extra renewable power is equivalent to more than 10 times’ the capacity of the ailing Eraring coal-fired power station, Australia’s largest power station, without the climate-wrecking pollution.
Climate Council CEO Amanda McKenzie said: “After a decade of inaction, while our energy system started breaking down around us, going all in on renewables is exactly what we need to do now. The clean energy switch is already well underway around Australia and building on this momentum will deliver cheaper, more reliable energy as Australia’s ageing and unreliable coal generators give up the ghost.
“Ramping up renewables this decade is fundamental to cut pollution from our fossil fuel-powered energy system and electrify transport, industry and more, so that we can end our reliance on expensive coal and gas for good and keep Australians safe from worsening climate change.”
Dr Jennifer Rayner, Head of Advocacy at the Climate Council, said state governments should now seize the opportunity created by this Federal Government investment to accelerate their own renewable energy plans.
“This investment can unlock the additional energy capacity needed to ensure that coal-fired clunkers like Eraring close on schedule. The NSW Government and others right around the country should grab it with both hands,” Dr Rayner said.
“Agreements between the federal and state governments under the National Energy Transformation Partnership will be a great way to ensure all governments are pulling in the same direction: adding cheaper, cleaner and more reliable solar and wind energy as quickly as possible.
“As part of this plan the federal government should ensure Australia’s national environment law – the EPBC Act – is updated to say a quick yes to responsible clean energy projects and a decisive no to polluting, climate-wrecking fossil fuel projects.”
—
