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Australian news, and some related international items

Labor supports emissions scheme to reach 50% renewable energy goal

Labor to drop renewable energy target in favour of emissions scheme
RET will come to a natural end as emissions intensity scheme can reach goal of 50% renewable energy by 2030, says Andrew Leigh
 , Guardian, , 2 Apr 17, Labor will abandon the renewable energy target after 2020 because an emissions intensity scheme will be sufficient to reach the goal of 50% renewable energy by 2030, Andrew Leigh has said.

On Sky News on Sunday the shadow assistant treasurer firmed the opposition’s plan to reach the 50% goal without a hard target in comments that appeared to rule out extending the existing renewable energy target (RET).

“We’ve committed to getting 50% renewables but the mechanism that we’ve used in the past has been a renewable energy target. That comes to an end and we believe an [emissions intensity scheme] EIS can take us to the point of having 50% renewables … without the RET,” Leigh said.

Asked to confirm that meant Labor would not support the RET when it expired in 2020, Leigh responded: “We believe that the emissions intensity scheme does that job … without a RET.”……..

Pressure has been mounting on the Finkel review to recommend a market mechanism. A string of peak bodies have already called for market mechanisms, including the National Farmers’ Federationthe Investor Group on Climate Change and the Business Council of Australia, which explicitly called for an EIS.

Leigh noted that an EIS was supported by experts across the field, including the Business Council of Australia and many energy regulators. He noted renewables account for the majority of new investment in electricity generation in the last decade.

“One of the government’s favourite backers, Bjørn Lomborg, not somebody Labor would usually support, says that every $1 invested in renewables gives you a pay back of $11.”

Leigh said that Nick Xenophon, who abandoned his demand for an EIS in return for support for company tax cuts in favour of a payment to pensioners and a number of energy measures, had been “sold a pup”.

The measures include fast-tracking a solar-thermal plant in South Australia already promised, a study of a gas pipeline connecting the state with the Northern Territory, and a new national energy policy………https://www.theguardian.com/australia-news/2017/apr/02/labor-to-drop-renewable-energy-target-in-favour-of-eis

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April 3, 2017 - Posted by | AUSTRALIA - NATIONAL, climate change - global warming, energy, politics

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