Age
Tuesday 21/12/2010 Page: 12
IN PUSHING for the removal of industry development policies such as the 20% renewable energy target, Heather Ridout seems to believe in the silver bullet theory of addressing climate change ("Labor energy policy costly, inefficient: Ridout", The Age, 20/12). If groups like the Australian Industry Group have their way, an emissions trading scheme will not provide a sufficient price signal to change investment in the stationary energy sector for at least 15 years.
With more than 40% of Australian greenhouse gas emissions coming from producing energy, urgent action is required. Policies such as the renewable energy target play a significant role because they divert investment away from dirty forms of energy to clean sources. By supporting the deployment of clean energy technologies, we create new industries in regional Australia, stimulate investment and diversify our energy generation mix.
These benefits do not have a big price tag, as some like to suggest. Over the next 10 years the large-scale portion of the 20% renewable energy target will add less than 0.75% a year to most consumers' energy bills. This is small compared with recent cost increases associated with building and maintaining distribution and transmission networks.
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