Renewable Energy projects underway across Australian states and territories have already exceeded the 2030 targets outlined in the Federal Government’s proposed National Energy Guarantee (NEG), according to new data.
Renewable Energy Index figures released today confirm that Australia already has more clean, reliable and affordable renewable energy projects locked in or underway now, than the NEG’s weak target for a 26% reduction in greenhouse gas pollution would deliver by 2030.
Climate Councillor and energy expert Professor Andrew Stock said the report confirms Australia already has 9,691 megawatts (MW) of renewable energy either built, under construction or in the pipeline now compared to what the NEG’s inadequate target of 26% would see by 2030 (equivalent to around 9,271 megawatts (MW)).
“Australia’s thriving renewable industry, supported by leading states’ initiatives, have already achieved and exceeded the weak 2030 target of the proposed Federal Government’s National Energy Guarantee,” he said.
“This means if the National Energy Guarantee is implemented as is, we will see Australia’s renewables and battery storage boom grind to a halt, thousands of jobs lost, billions of dollars of investment stalled, and regional areas bearing the brunt of this downturn.”
Professor Stock said in order to seriously tackle climate change Australia must swiftly and deeply reduce its rising greenhouse gas pollution levels, which have increased each quarter since March 2015.
“This data shows how fundamentally flawed the proposed NEG is when it comes to tackling our greenhouse gas pollution levels.
“The Federal Government’s NEG aims to lock Australia into a weak target until 2030, destroy a leading Australian industry sector employing thousands of workers, deliver no added greenhouse gas cuts while loading up the burden on every other sector of the economy,” he said.
It follows recent data from the UNEP ‘Global Trends in Renewable Energy Investment 2018’ report highlighting that Australia’s renewable energy investment skyrocketed by an astonishing 147% to $11 billion in 2017.
“The countdown to COAG’s energy council meeting on Friday is underway. This new data shows the NEG will guarantee nothing but a decade-long freeze on renewables and battery storage investment, thousands of lost jobs, and fail to tackle greenhouse gas pollution and climate change.”
“The Climate Council is urging state and territory leaders not to settle for anything less than a credible climate and energy policy that Australia can be proud of. The NEG will not deliver this.”
To view the full Renewable Energy Index click here.
The Climate Council has created a climate and energy policy roadmap ‘Clean & Reliable Power: Roadmap to a Renewable Future’, outlining 12 key principles that are essential to tackling climate change in Australia. A broad consensus of industry, community and academics have raised concerns over NEG, view our summary here.
For more information please contact Communications Officer Brianna Hudson on 0438 972 260.