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Empowering Australia's Clean Energy Future: A Strategic Roadmap

2024-03-21

Australia's path towards a net-zero future is guided by a comprehensive strategic plan unveiled by the Clean Energy Council. Comprising 45 recommendations, this plan aims to propel Australia towards its ambitious goal of achieving 82% renewable energy by 2030.

 

Titled "Power Playbook: Accelerating Australia’s Clean Energy Transformation," this submission outlines an integrated approach to harnessing global opportunities and ensuring Australia's continued leadership and competitiveness in the renewable energy sector.

 

Australia's vision for a sustainable future is anchored in a structured masterplan and key recommendations:

 

  1. Establishment of a Clean Energy Transformation Investment Package, committing $10 billion annually for a minimum of 10 years or a total of at least $100 billion. This initiative aims to enhance Australia's global standing in renewable energy competitiveness.

  2. Formalization of a Renewable Energy Superpower Masterplan by the Federal Government, outlining strategic objectives and pathways to solidify Australia's position as a leader in renewable energy.

  3. Commitment to achieving full decarbonization of the electricity sector by 2035, with a clear recognition that low-cost, renewable energy will serve as the cornerstone of Australia's competitive edge in a net-zero economy.

 

Australia's roadmap to a renewable future includes strategic policy measures aimed at driving sustained investment and innovation in the energy sector:

 

  1. Long-term commitment to large-scale renewable energy projects, with an extension of the Large-scale Renewable Energy Target (LRET) beyond 2030 to at least 2040.

  2. Coordinated national delivery plan for transmission projects of national significance, ensuring efficient infrastructure development to support renewable energy expansion.

  3. Establishment of new national targets for rooftop solar and distributed energy storage by 2030 and 2040, promoting widespread adoption of clean energy solutions at the household level.

  4. Expansion of the Small-scale Renewable Energy Scheme to facilitate increased battery uptake, enhancing energy storage capabilities and grid stability.

  5. Introduction of a national offshore wind target to provide certainty for investors, supported by a robust policy framework to accelerate offshore wind development and deployment.

 

Australia's clean energy landscape is poised for significant advancements with strategic investment allocations and policy initiatives:

 

  1. Investment in green hydrogen, green iron, and energy transition minerals processing, fostering innovation and sustainability in key sectors.

  2. Development of a National Clean Energy Supply Chain strategy, ensuring a streamlined and efficient pathway for clean energy production and distribution.

  3. Alignment of higher education funding models with industry needs, supporting workforce development and expertise crucial for the clean energy transformation.

 

"Our aim with the Power Playbook is to ignite meaningful conversations and channel national efforts towards crafting a comprehensive masterplan. This masterplan will guide the allocation of collective resources and help us achieve our ambitious goals.

 

"While Australia may not possess the financial capacity of the US to pursue every opportunity, we can strategically invest in priority markets that align with our strengths. Access to low-cost renewable energy is the linchpin for seizing these opportunities and must be our top priority."

 

The proposal urges the Federal Government to create a Renewable Energy Superpower Masterplan. This strategic blueprint aims to define Australia's role as a prominent producer and exporter of clean energy and value-added products. It will identify key markets for clean energy exports and provide guidance for both public and private investment.

 

According to Anna Freeman, the Clean Energy Council's policy director for decarbonization, signaling Australia's leadership in clean energy and green commodities markets is crucial. Failing to do so could result in being left behind in terms of capital, technology, and skilled workforce availability.

 

Affordable renewable energy forms the bedrock of Australia's competitiveness as it races towards achieving net zero emissions.

 

"To reach the government's ambitious target of 82% renewable energy by 2030, Australia must significantly ramp up its annual financial commitments. This includes adding 6GW to 7GW of new large-scale renewable projects starting from 2024, along with installing approximately 3.5GW of rooftop solar annually until 2030.

 

"Accelerating renewable energy deployment is imperative for Australia to fulfill its vision of becoming a renewable energy superpower."

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