Proposed national energy transformation plan delivers on climate with efficiency first, 17 March 2022
A proposed national energy transformation plan (NETP) published today will deliver on climate by increasing existing targets and expanding existing market-based mechanisms. It’s not hard, nothing new, can largely be lifted from NSW’s shelf and the key deliverables are obvious.
Key deliverables: have a plan; increase the emissions reduction target to a science-based 60% by 2030; expand renewable energy; roll out a national energy savings scheme, peak demand reduction scheme, fuel switching incentives, renewable fuels production target all modelled on NSW Energy Security Safeguard. In addition, lower baselines for large emitters under the Safeguard Mechanism; expand the Renewable Energy Target to include battery storage; include more energy efficiency methods under the Carbon Farming Initiative; and ensure the National Electricity Market post-2025 design shifts to a more balanced focus on demand-side as well as supply-side opportunities. All these deliverables will provide more resilient, reliable and secure energy infrastructure and reduce greenhouse gas emissions.
“The electricity, stationary energy and transport sectors are best placed to rapidly deliver the deep emissions cuts we need and are ripe for efficiency transformation. Jurisdictions across Australia have a patchwork suite of targets and policy mechanisms. New South Wales has a robust suite that can be ramped-up and rolled out across the nation by 2025,” said president of the Energy Savings Industry Association, Rod Woolley.
Without national cohesion, vulnerable households and small businesses will remain the biggest losers. Australia will remain an embarrassment at the international climate change table, including at COP27 in late 2022 in Egypt.
“We need a well-integrated national energy transformation plan with bi-partisan support to accelerate Australia on the national climate emergency route to net zero. A plan equals ambitious targets supported by policies that drive change in the right direction that are measurable and trackable.”
Many households and businesses have indicated they are ready to participate with well-targeted financial incentives. Investors are poised to provide capital. Internationally recognised policy makers and commercial enterprises are blue in the face waiting for proven opportunities to be unleashed to address market barriers. It won’t happen without strong federal leadership.
“For decades we have had energy efficiency policies being hamstrung and hung. Then dusted off and whittled down by federal governments weak on leadership who have kicked the can down the road. Time’s up,” said Mr Woolley.
… Ends Media contact: Jessica Lynch, M 0417 539 377, firstname.lastname@example.org
(Related Media Release: Energy Savings Schemes deliver what voters want)