Despite plummeting costs of renewables the government and the BCA insist that emissions reduction would be ‘economy wrecking’

Fresh from losing the economic fight about company tax cuts, the Coalition government is doubling down on an economic fight about renewable energy. And yet again, as they march into battle they have the Business Council of Australia as their key source of economic and political advice. What could go wrong?

The cost of renewable energy has fallen dramatically in the past 10 years and will continue to fall for years to come. By some accounts, new renewables with storage are already cheaper than coal fired power stations. Some argue that they aren’t quite there yet. But no one argues that in 30 years’ time a new coal-fired power station that has to buy coal will be able to compete with a solar farm that gets its sunshine for free.

Betting on the future cost of renewables is like catching a falling knife, but if there is one thing that unites the Coalition and the BCA it’s that they aren’t averse to self-inflicted wounds. At precisely the time when the costs of renewables and storage are plummeting and the world is meeting in Poland to discuss reductions in fossil fuel use, the Liberal government and the peak body for the biggest businesses in Australia are united in arguing that a 45% emissions reduction target by 2030 would be – in the words of BCA chief executive Jennifer Westacott – “economy wrecking”.

As with the failed campaign for company tax cuts, the nation’s prime minister is getting his talking points from the nation’s biggest lobbyists. In parliament last week Scott Morrison declared “a 45% target is economy wrecking”, adding to a scare-campaign designed to convince the Australian public that they have to choose between the environment they want for their kids and the jobs they want for them. It is sickening.

Not even the BCA’s own members believe the rhetoric of their peak body. Both Commonwealth Bank and Citi have renewable energy targets of 100% – Citi by 2020. Other BCA members like the CSIRO have put out a transition road map which includes 90% electricity generation from solar PV and wind by 2050 while maintaining reliability in the grid…………https://www.theguardian.com/commentisfree/2018/dec/13/scott-morrison-and-the-business-council-are-pushing-coal-but-on-what-evidence