A massive increase in renewable energy investment would create 70,000 jobs under Labor’s energy plan released today.
Half the cars sold in Australia in 2025 would be electric powered and by 2030 the move against petrol engines would see half of all passenger vehicles on our roads run on electricity, according to Labor objectives.
And by then, half of all electricity would come from renewable sources after a $10 billion investment in alternatives to fossil fuels.
The policy blueprint, released today in preparation for a federal election which might be called as soon as next Sunday, leaves little room for coal-fired power stations.
It includes carbon reduction credits which could become money earners for businesses.
Labor is promising lower household bills and new job creation from a power industry based on renewables.
The Opposition is sticking to its aim of reducing emissions by 45 per cent on 2005 levels by 2030, and reach “net zero pollution” by 2030.
And Labor vows it would be able to do so while maintaining economic growth.
Labor leader Bill Shorten wants to harness growing concern about climate change, particularly in metropolitan areas, and to highlight the Coalition’s difficulties in delivering a consistent energy policy.
“After six years of chaos, uncertainty and rising pollution under the Liberals, Australians need stability and certainty on climate change policy – that’s what our plan delivers,” Labor says in a statement today.
A Shorten government would aim for 50 per cent of electricity generation coming from renewable energy sources by 2030, and reduce household power bills.
It would offer a $2000 rebates for solar batteries for 100,000 households, with a target of 1,000,000 batteries by 2025.
Labor would double the original investment in the Clean Energy Finance Corporation by $10 billion, supporting new generation and storage across the country.
These measures would see “cleaner and cheaper power and more than 70,000 new jobs”.
Labor says it would work with industry to cut pollution while protecting companies with a high reliance on low-cost electricity to remain competitive in overseas markets.
Businesses would be offered rewards for exceeding emission reduction targets.
The over-achievers would be offered credits which could be sold or saved to help them meet further targets.
“This means businesses can make money out of cutting pollution,” says Labor’s statement.
It says: “Labor’s plan will help industry reduce pollution at least cost, and give traditional owners, farmers, the forestry industry and traditional owners new opportunities to earn income.”
The Coalition government’s $2.25 billion Emissions Reduction Fund, which paid polluters to get cleaner, would be abolished.
“Labor’s approach isn’t about punishing polluters, it’s about partnering with industry to find real, practical solutions to cut pollution, in a way that protects and grows industry and jobs,” says the policy statement.
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