Earlier this week, Federal Liberal Minister for Energy Angus Taylor, released the Morrison Government’s real plan to cut Australia’s emissions and create jobs.
This real plan will cut Australia’s emissions by 250 million tonnes, and create 130,000 jobs.
The Federal Liberal Government’s $18 billion investment to lower emissions will drive $50 billion of private sector investment in emissions-reducing technologies.
In this way, Australia will lower our emissions without crippling our economy, harming jobs or jeopardising a reliable and affordable power supply.
The Federal Liberal Government is targeting five high-priority strategies:
1. Hydrogen production under $2 per kilogram.
2. Long-duration energy storage (6-8 hours or more) dispatched at less than $100 per MWh – this will enable reliable, firmed wind and solar at prices around the average wholesale electricity price of today.
3. Low carbon materials – low emissions steel production under $900 per tonne, low emissions aluminium under $2,700 per tonne.
4. CCS – CO₂ compression, hub transport, and storage under $20 per tonne of CO₂.
5. Soil carbon measurement under $3 per hectare per year – a 90 per cent reduction from today’s measurement costs and would transform the economics of soil carbon projects for Australian farmers.
This $18 billion plan to lower emissions comes on top of the $1.9 billion investment in this area announced by the Federal Government last week.
It stands in stark contrast to Victorian Labor’s haphazard attempts to reduce emissions. For example, over 90 per cent of the large-scale solar projects, Victorian Labor has promised still provide no power to Victoria’s electricity grid.
Let there be no mistake. The Victorian Liberal Nationals unequivocally support a considered clean energy transition that lowers our emissions.
It is for this reason that we whole-heartedly support the Federal Government’s plan. This plan lowers emissions while ensuring our electricity reliable and affordable.
Victorians have lost confidence in the Andrews Labor Government that repeatedly makes empty promises about protecting the environment.
Comments attributable to Shadow Minister for Energy and Renewables, Ryan Smith:
“The Victorian Liberal Nationals will lower our emissions in a way that does not damage our economy. That’s why we support the Federal Liberals $18 billion investment to achieve this.
“Labor promises the world on emissions reduction, but has delivered less than 10 per cent of their promises.”