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Greens want a fast track to clean energy Greens want a fast track to clean energy
(3 months later)
The Greens have called for Australia's renewable energy target to be increased to 90% by 2030 and for an extra $20 billion to be spent through the Clean Energy Finance Corporation, in a bid to ultimately run the country entirely on clean energy.The Greens have called for Australia's renewable energy target to be increased to 90% by 2030 and for an extra $20 billion to be spent through the Clean Energy Finance Corporation, in a bid to ultimately run the country entirely on clean energy.
Unveiling the plan in Melbourne, Greens leader Christine Milne told Guardian Australia that the bid for Australia to eventually become 100% renewable was "technically feasible and extremely achievable".Unveiling the plan in Melbourne, Greens leader Christine Milne told Guardian Australia that the bid for Australia to eventually become 100% renewable was "technically feasible and extremely achievable".
However, analysts and business groups have reacted with caution to the ambitious plan, which would drastically escalate Australia's commitment to reducing carbon emissions.However, analysts and business groups have reacted with caution to the ambitious plan, which would drastically escalate Australia's commitment to reducing carbon emissions.
Under the Greens' "clean energy road map", the renewable energy target, currently standing at 20% of power generation by 2020, would be upped to 90% by 2030.Under the Greens' "clean energy road map", the renewable energy target, currently standing at 20% of power generation by 2020, would be upped to 90% by 2030.
Meanwhile, funding for the Clean Energy Finance Corporation would be boosted by $3 billion a year to $30 billion over 10 years.Meanwhile, funding for the Clean Energy Finance Corporation would be boosted by $3 billion a year to $30 billion over 10 years.
This investment, aimed at developing energy technology in wind, solar and hydro, would be paid for by borrowing, keeping it off the budget. Milne would not reveal how the Greens would pay for the interest on the extra investment but said the details will be released in its pre-election costings.This investment, aimed at developing energy technology in wind, solar and hydro, would be paid for by borrowing, keeping it off the budget. Milne would not reveal how the Greens would pay for the interest on the extra investment but said the details will be released in its pre-election costings.
The Coalition has promised to scrap the Clean Energy Finance Corporation should it gain power at the election and has said it would review the renewable energy target next year, with several figures within the party calling for its abolition.The Coalition has promised to scrap the Clean Energy Finance Corporation should it gain power at the election and has said it would review the renewable energy target next year, with several figures within the party calling for its abolition.
Milne pointed to a report by the Australian Energy Market Operator in April, which showed that 100% renewable energy for reliable electricity was possible by 2030, as supporting proof for the Greens' plan.Milne pointed to a report by the Australian Energy Market Operator in April, which showed that 100% renewable energy for reliable electricity was possible by 2030, as supporting proof for the Greens' plan.
"We know that it's technically feasible, it's more about how much money we put into it," she said. "We can get to 90% renewables by 2030 and then the last 10% is the challenge, to do it in the most economically efficient way."We know that it's technically feasible, it's more about how much money we put into it," she said. "We can get to 90% renewables by 2030 and then the last 10% is the challenge, to do it in the most economically efficient way.
"The opposition to this idea all comes from companies invested in coal and gas. The Coalition run around saying we can't have reliable energy without coal, which is last century thinking. Just look at the solar plants' storage when the sun isn't shining."The opposition to this idea all comes from companies invested in coal and gas. The Coalition run around saying we can't have reliable energy without coal, which is last century thinking. Just look at the solar plants' storage when the sun isn't shining.
"Tony Abbott has helped stop the wind industry in its tracks by not committing to the 41 gigawatt hours target by 2020. We simply don't know about Kevin Rudd. He backflipped, since he called climate change the greatest challenge of our time, by dropping the carbon price and not compromising with the Greens."Tony Abbott has helped stop the wind industry in its tracks by not committing to the 41 gigawatt hours target by 2020. We simply don't know about Kevin Rudd. He backflipped, since he called climate change the greatest challenge of our time, by dropping the carbon price and not compromising with the Greens.
"What we need is a big, revolutionary step change for renewable energy, which is why we've developed this road map.""What we need is a big, revolutionary step change for renewable energy, which is why we've developed this road map."
But the Greens' plan has been met with reticence and even hostility in some quarters.But the Greens' plan has been met with reticence and even hostility in some quarters.
John Connor, CEO of The Climate Institute, said that the 90% target was a "worthy" goal, but it could prove unnecessary.John Connor, CEO of The Climate Institute, said that the 90% target was a "worthy" goal, but it could prove unnecessary.
"It's certainly an ambitious policy that focuses on renewables as a primary way of reducing emissions," he said. "We see the primary, most cost-effective way being through a pollution reduction carbon market and energy efficiency," he said."It's certainly an ambitious policy that focuses on renewables as a primary way of reducing emissions," he said. "We see the primary, most cost-effective way being through a pollution reduction carbon market and energy efficiency," he said.
"If technology costs continue to fall as they have with solar and wind, you may not need extended renewable targets. The question around pouring in more money is the cost. We need to focus on the primary goals."If technology costs continue to fall as they have with solar and wind, you may not need extended renewable targets. The question around pouring in more money is the cost. We need to focus on the primary goals.
"We are facing existential threats to the renewable energy target and the carbon price. We need to make sure we don't go backwards on either of those things in order to send the right short and long-term signals. Let's focus on those fundamentals.""We are facing existential threats to the renewable energy target and the carbon price. We need to make sure we don't go backwards on either of those things in order to send the right short and long-term signals. Let's focus on those fundamentals."
Origin, Australia's largest electricity retailer, has previously warned that any increase in Australia's renewable energy above 20% will push up energy prices, citing a drop in demand.Origin, Australia's largest electricity retailer, has previously warned that any increase in Australia's renewable energy above 20% will push up energy prices, citing a drop in demand.
Greenhouse emissions from the National Electricity Market over the past year, which includes the first year of the carbon price, have dropped by 7%, although this has been driven by a fall in demand of 5%.Greenhouse emissions from the National Electricity Market over the past year, which includes the first year of the carbon price, have dropped by 7%, although this has been driven by a fall in demand of 5%.
The Business Council of Australia said in a statement that it would not support any rise in the renewable energy target.The Business Council of Australia said in a statement that it would not support any rise in the renewable energy target.
"For some time the BCA has argued that the introduction of a renewable energy target was not the best way to address the risks associated with climate change, as such a policy does not represent a lowest-cost approach to emissions reduction," it said."For some time the BCA has argued that the introduction of a renewable energy target was not the best way to address the risks associated with climate change, as such a policy does not represent a lowest-cost approach to emissions reduction," it said.
"Australia's economy has historically benefited from access to abundant and low-cost energy sources, notably arising from its substantial reserves of brown and black coal and natural gas.""Australia's economy has historically benefited from access to abundant and low-cost energy sources, notably arising from its substantial reserves of brown and black coal and natural gas."
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