The fear of energy bills keeps rising while the power outage increases if the renewable energy targets are not met
- Clean Energy Council claims that investments in renewable energy must be increased
- They say that prices will continue to rise and blackouts will occur more often
- Coalition has threatened to break energy companies that pay too much
Energy prices can continue to rise if the renewable energy target of Australia is not replaced, fears the Clean Energy Council.
In a briefing published on Wednesday, the group says that investments in new renewable energy projects have fallen this year, after reaching a peak at the end of 2018.
The quarterly investments in new renewable energy projects reached a peak of more than 4500 MW at the end of 2018, but this year fell to 800 MW.
The Clean Energy Council is now renewing its call for a national policy to give investors confidence.
Energy prices can continue to rise if the renewable energy target in Australia is not replaced, fears the Clean Energy Council (stock image)
The briefing comes about a week after Australia has met its 2020 renewable energy target, which the federal government is not planning to expand.
Under the target, 33,000 gigawatt hours – or 23.5 percent – of Australian electricity will come from renewable sources by 2020.
Kane Thornton, CEO of the Clean Energy Council, fears that future investments will be lost without a new goal, which could lead to higher energy prices and risk the reliability of electricity.
& # 39; Investors are forced to balance their record enthusiasm for Australian wind and solar projects with a lack of national policies, increasing threats of government interference in the energy market and a series of outdated regulations, & # 39; he said.
& # 39; With Australia's coal-fired power stations aging rapidly, it is essential that new clean energy projects are now being built to ensure lower energy prices and improved reliability when these old clunkers retire. & # 39;
Although the bill has not returned to parliament, the Coalition still intends to breathe new life into its so-called & # 39; big-stick & # 39;
The industry is roughly opposed to the proposal and the Clean Energy Council fears that it will keep investors at bay.
Energy Minister Angus Taylor also has to reveal how the government's plan to support new energy projects would work, or how much taxpayer money would be put into the scheme.
Energy Minister Angus Taylor (photo) must also reveal how the government's plan to support new energy projects would work
. (TagsToTranslate) Dailymail (t) news