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Budget 2018: Turnbull's war on renewables continues in budget



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THE HON MARK BUTLER MP SHADOW MINISTER CLIMATE CHANGE AND ENERGY MEMBER FOR PORT ADELAIDE

TURNBULL’S WAR ON RENEWABLES CONTINUES IN BUDGET

Hidden deep in the Budget Papers is the latest indication that, under the Turnbull Government, there will be a dramatic fall in renewable investment as we transition from the Renewable Energy Target to the possibility of a weak National Energy Guarantee (NEG).

After drawing $2 billion for new investment in 2017/18, the Clean Energy Finance Corporation (CEFC) is only drawing $530 million in 2018/19.

Few know the Australian renewables industry better than the CEFC, and this is an ominous sign of an industry getting ready for Malcolm Turnbull’s weak NEG.

Under the current weak emissions reduction target of the NEG, analysis has shown there will be no new large-scale renewable energy projects built for the entirety of the 2020s.

Malcolm Turnbull and the Liberals continue to wage their war against renewables to appease the hard right climate deniers of the Coalition party room.

THURSDAY, 10 MAY 2018

MEDIA CONTACT: LUCY CARUSO 0408 803 428

Authorised by Noah Carroll ALP Canberra