In 2020 the Large Scale Renewable Energy Target and Small Scale Renewable Energy Schemes come to an end.
In order to further boost support for renewables, a Shorten Labor Government will also show leadership in driving the transition to renewable energy by facilitating a process through which the Commonwealth bundles its total energy demand into Power Purchase Agreements (PPA).
PPAs are a key financing mechanism to drive new investment in renewable energy.
The Government is a significant energy user and a Shorten Labor Government will play a direct role in expanding Australia’s renewable energy industry.
To directly drive investment in renewable energy, from 2020 a Shorten Labor Government will work with energy providers to enter into PPAs equal to bringing Commonwealth energy use up to 50% renewable energy by 2030.
These will be 10 to 15 year contracts, and will provide the certainty needed for long term investment in the renewable energy sector. Labor will consult with the energy industry and regulators in finalising the design of this proposal.
In contrast to Labor’s pro-renewables policies, the Liberals have overseen almost 3,000 renewable energy job losses and in their first year in Government, their anti-renewable stance resulted in an 88 per cent fall in large scale renewable energy investment.
Only Labor has a positive plan to support and grow renewable energy and grow jobs in this crucial industry