Australia will meet its global emissions target (of 26% to 28% below 2005 levels by 2030).
We have an obligation to protect our environment for future generations. We must also ensure a strong economy, so the next generation can find jobs.
Our Climate Solutions Package will help achieve these objectives. Specific initiatives include:
- A $2 billion Climate Solutions Fund. This will help farmers, small businesses and Indigenous communities reduce emissions, lower energy costs and improve the natural environment. This will build on the success of the Emissions Reduction Fund which has delivered 193 million tonnes of emissions reductions.
- Constructing Snowy 2.0, which will be the world’s second largest pumped hydro renewable power station – providing 175 hours of storage – enough to power 500,000 homes.
- Backing a second interconnector, to bring renewable power from Tasmania to the mainland. This will help Tasmania be the Battery of the Nation.
- Developing a National Electric Vehicle Strategy to help the transition to new technology.
- Helping households and businesses improve energy efficiency.
- The Cleaner, Greener Local Communities initiative. This will support local communities to reduce emissions and improve air and water quality.
INVESTING IN RENEWABLE ENERGY
2017 saw investment in renewables in Australia increasing by 150%, to record levels.
Australia’s $11 billion investment last year in clean energy placed us seventh in the world (third on a per capita basis).
Last year was also the biggest ever year for rooftop solar installation. One in five Australians now has solar panels on their roof – one of the highest rates in the world.
Renewable energy will reach 23.5% of Australia’s electricity supply by 2020.
Snowy 2.0 and Tasmania’s Battery of the Nation project will help make renewables more reliable, providing 24/7 power to households and businesses.