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Abbott Government plan would ruin renewable energy



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CHRIS BOWEN MP SHADOW TREASURER MEMBER FOR MCMAHON

THE HON MARK BUTLER MP SHADOW MINISTER FOR ENVIRONMENT, CLIMATE CHANGE AND WATER MEMBER FOR PORT ADELAIDE

GARY GRAY MP

SHADOW MINISTER FOR RESOURCES SHADOW MINISTER FOR NORTHERN AUSTRALIA SHADOW SPECIAL MINISTER OF STATE MEMBER FOR BRAND

MEDIA RELEASE

ABBOTT GOVERNMENT PLAN WOULD RUIN RENEWABLE ENERGY

The Abbott Government’s plan to cut the Renewable Energy Target by more than 40 per cent will ruin the renewable energy industry, cost thousands of jobs and see investment move offshore.

Labor rejects this proposal.

The Abbott Government has tried its hardest to destroythe industry with its politically-motivated Warburton Review and its adoption of one of the Review’s recommendation stands to be devastating news for renewable energy businesses.

Labor’s legislated RET of 41,000GWh by 2020 is an overwhelming policy success. Jobs in the sector have tripled, there has been more than $18 billion in investment and homes with solar panels has increased to 1.3 million.

In September 2013, Australia was ranked in the top four most attractive places to invest in renewable energy, with the US, China and Germany. Since Tony Abbott’s interference with the RET, Australia is now ranked 10th.

The Abbott Government’s own modelling shows the RET will drive down power prices in the medium term.

Yet, despite the overwhelming evidence of its success, the Abbott Government is still looking to wind back the RET by more than 40 per cent.

Tony Abbott shattered the bipartisanship the industry has enjoyed for more than a decade when he walked away from the RET after the election and appointed a climate sceptic to head the RET Review.

We will continue to talk to the Government but Labor will not be party to a plan that kills jobs and investment, increases carbon pollution and forces power prices to rise.

WEDNESDAY, 22 OCTOBER 2014

MEDIA CONTACT: JAMES CULLEN (BOWEN) 0409 719 879 JO MEEHAN (BUTLER) 0408 803 428 PATRICK FAGAN (GRAY) 0439 568 402