Australia’s Clean Energy Council has unveiled a plan to lead Australia’s economic recovery from COVID-19 with accelerated investment in renewable energy and energy storage.
Courtesy of Lawrence Murray
The plan, entitled ‘A Clean Recovery’, aims to utilise Australia’s extraordinary renewable energy and energy storage potential to jumpstart Australia’s economic resurgence. The Clean Energy Council says that the current pipeline of investment could create over 50,000 new jobs, lower power prices, and inject over $50 billion worth of investment to revitalise economic activity in regional and rural communities.
Clean Energy Council Chief Executive Kane Thornton said that ‘A Clean Recovery’ is an opportunity to transform Australia forever, cementing the nation’s position as a clean energy superpower.
“There are currently hundreds of large-scale wind and solar projects that have been identified with planning approval and are well placed to proceed quickly” said Mr Thornton. “Bringing forward these projects could deliver over $50 billion of investment, more than 30,000 MW of capacity and more than 50,000 new jobs in constructing these projects, along with many more indirect jobs. This isn’t about a handout for industry when government is directing scarce taxpayer funding to other essential services and areas. There is an enormous appetite for private investment in clean energy, that can be unlocked through smart regulatory reform, sensible energy policy and investment in the grid and energy storage.”
‘A Clean Recovery’ could also empower energy customers and drive down power prices, by supporting even more Australian homes and businesses going solar and installing household batteries and driving down their power bills. It would boost Australia’s economy with over $50 billion of new investment, tripling the amount of large-scale renewable energy installed in Australia, with the vast majority of projects located in rural and regional areas. Crucially, it could also cement Australia’s position as a global energy superpower and leading exporter of renewable hydrogen, securing export revenue and jobs for the 21st century. The plan could build on the recent success of clean energy. “Over the past three years, there has been over $20 billion worth of new large-scale wind and solar projects committed, equating to 11,149 MW of capacity and creating over 14,000 new jobs” said Thornton.
Accelerating the clean energy transition remains the major challenge of our times. The massive disruption brought about by COVID-19 also creates an opportunity for Australia to accelerate the shift to clean energy and prepare Australia for the future. Clean energy remains one of the few investments that can deliver economic growth and carbon abatement.