Federal Treasurer Jim Chalmers has acknowledged Australia will fail to meet its desired energy targets without substantial private sector investment and collaboration across all three government tiers.
Delivering a keynote address at the Economic and Social Outlook Conference in Melbourne on Thursday, Mr Chalmers said although the Albanese government had made strong headway in advancing renewable energy policies, it could not hit its 2030 and 2050 net zero emissions targets unless “even more work” was done with industry policy.
Treasurer Jim Chalmers said vigorous government intervention and private industry investment are needed to expedite Australia's clean energy goals. Picture: NCA NewsWire / Andrew Henshaw However, Mr Chalmers said attracting the desired capital was simply a means to an end and that a range of other factors would have to be worked through to hit renewable energy goals, including leveraging Australia’s competitiveness in the industry, deploying appropriate infrastructure, building regional capabilities, and establishing appropriate skills and research bases.
Its main points are: first, while important building blocks are now in place and progress has been made, we will need to do even more to secure sufficient renewable energy generation, transmission and storage to meet our ambitionsIt will make cleaner and cheaper solar energy even more affordable â while creating jobs right here at home.
Scepticism has been raised over the feasibility of these goals, but the government remains confident of a “defining decade” ahead.
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