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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.