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Clean Energy Future
The carbon price will provide a very significant incentive for the development of clean technologies, especially renewable energy. The Labor Government will complement this market signal with targeted investments to bring forward new technologies at as low a cost as possible.
The Government’s plan to move to a clean energy future will:
- Unleash innovation and investment worth billions of dollars in renewable energy
- Help Australians improve energy efficiency at home and work
- Will reward farmers, forest growers and landholders that take steps to reduce carbon pollution and help protect Australia’s biodiversity
Pricing carbon will shift demand towards cleaner energy. New technologies to provide clean and affordable alternative energy sources have the potential to significantly reduce the costs of tackling climate change. A carbon price will encourage new investment in renewable energy, such as solar and wind, and more efficient use of electricity.
Treasury modelling shows that with a carbon price, energy from the renewables sector is projected to account for around 40 per cent of our electricity generation by 2050, a signifi cant increase from its current level of around 10 per cent.
The Government has developed a comprehensive plan to move to a clean energy future. The plan will cut pollution and drive investment in new clean energy sources, such as solar, gas and wind. This transformation is vital if Australia is to meet the environmental and economic challenges of competing in a low-pollution world.
The Government’s plan includes:
- introducing a carbon price
- promoting innovation and investment in renewable energy
- encouraging energy efficiency
- creating opportunities in the land sector to cut pollution.
The countries that develop the technologies and products that allow the world to decouple production from pollution will prosper in the 21st century.
The carbon price is fundamental to transforming the Australian economy, in order to allow us to grow industries and jobs with less pollution. The Government will complement this market signal with targeted investments to bring forward new technologies at as low a cost as possible.