Statement from Environment Minister, Melissa Price:
Statement from the Environment Minister re: the documentary 2040.
The Coalition is overseeing unprecedented levels of investment in renewable technology
o A record $13 billion was invested in renewable energy in Australia last year
o Nineteen percent of Australia’s electricity is now coming from renewables
o Wind and solar contribution to the National Energy Market is predicted to increase by 250% over the next three years
o The coalition’s Clean Energy Finance Corporation has invested $6.4 billion in projects worth $21 billion
Australian Renewable Energy Agency has provided a further $1.35billion in grant funding to over 400 projectsA re-elected Morrison Government will allocate
o $50 million to unlock private sector and community investment in new generation and storage – enabling new forms of ownership by taking proposals such as the Daintree region project to investment stage. As the cost of providing off-grid electricity continues to fall, the Coalition recognises that in some cases it will be cheaper to supply off-grid rather than maintain and replace long power lines
o $1.38 billion for the expansion of Snowy Hydro 2.0, establishing the second-largest pumped hydro power station in the world
o $56 million for the Marinus Link, a second electricity interconnector between Tasmania and Victoria, will enable Tasmania’s Battery of the Nation to supply south-east Australian households and industry with renewable and reliable electricity
o $79 million in new energy efficiency measures will reduce emissions by 63 million tonnes by 2030 (this includes $50 million in an Energy Efficient Communities Program to support small businesses, local community groups, households and building owners to improve energy efficiency, reduce emissions and lower energy bills.
o The Morrison Government is also working with states and territories on a National Hydrogen Strategy to build a clean, innovative and competitive hydrogen industry, and position Australia’s hydrogen industry as a major global player by 2030
o The Morrison Government is also working with states and territories on a National Hydrogen Strategy to build a clean, innovative and competitive hydrogen industry, and position Australia’s hydrogen industry as a major global player by 2030 and has already invested over $100 million in supporting hydrogen projects.