Increased investment in renewables projects is welcome and confirms the energy industry is on track to deliver the Renewable Energy Target, but there is still much to do to avert the current supply crisis, the energy industry said today.
Australian Energy Council Chief Executive, Matthew Warren, said the increased investment in renewables was the result of increased support from State and Federal governments in challenging investment conditions for the industry.
“Renewables will play an important role because they are pivotal in helping to reduce greenhouse emissions from the energy sector this century,” Mr Warren said.
“But we are still yet to the fix high energy costs and increased reliability risks faced by Australian businesses and households. We are still yet to address how we will efficiently and reliably integrate higher levels of renewables into our grid.
“More renewables are part of the solution, not the solution itself. We still need a durable national energy and climate policy that unlocks all types of energy investment and allows the market to coordinate energy technologies to deliver reliability and lower emissions at the lowest cost to consumers.
“The uplift in renewable projects demonstrates that Australia’s energy businesses are serious about doing their bit to deliver the national renewable energy target. Now we need to think beyond its conclusion in 2020 to work out how to continue the journey of decarbonisation for the energy sector, while ensuring reliable supply.”
About the Australian Energy Council
The Council represents 21 major electricity and downstream natural gas businesses operating in competitive wholesale and retail energy markets. These businesses collectively generate the overwhelming majority of electricity in Australia and sell gas and electricity to over 10 million homes and businesses.
Media contact Carl Kitchen 0401 691 342
Published in The Australian, 16 December 2021 By Sarah McNamara, Chief Executive, Australian Energy Council In mid-2020, the Australian Energy Council supported adoption of a Net Zero by 2050 target for Australia.
To get to net zero by 2050 and significantly reduce emissions by 2030 other sectors will have to lift their game rather than let the energy industry do all the heavy lifting, according to the Australian Energy Council.
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