EXPERT ANALYSIS: National Energy Guarantee and the shift towards renewable energy

Federal Energy Minister Josh Frydenberg has recently hit out at Bill Shorten’s fully costed plan for a transition to renewable energy in Australia.

The Opposition Leader’s plan includes a 50% federal renewable energy target, driving investments into renewables and injecting certainty back into the energy market.

However, the Coalition has not released ANY economic modelling reports about how the National Energy Guarantee is actually going to work.

It is expected to miraculously reduce prices for consumers, but will not allude to how that will occur.

James Eggleston, energy researcher, said there’s too much uncertainty on energy policies in Australia, and we need to naturally shift to renewable energies like other nations are doing.

“The issue for Malcolm Turnbull is convincing his conservative back benchers, that this is not a political issue so to speak it’s actually an issue about technology and economics,”

“It’s actually an issue about technology and economics, he needs to see where that’s taking us, and without a doubt it’s pushing towards renewables,” he said.

Arguably, Prime Minister, Malcolm Turnbull did push for the Finkel Review, which policy makers are able to use as a reliable stable transition into Australia’s renewable future.

Not to mention numerous enquires made by Mr Turnbull into windfall profiteering in the energy sector.

A shift towards renewable energy will not only help us reach our commitments within the Paris Agreement, but also significantly reduce recently soaring prices for consumers.

Another alternative commented on by Mr Eggleston are carbon taxes and emissions trading schemes.

The government should be considering these as legitimate options, but the problem is they’ve been made so politically unpalatable that although it might be the best policy, it may actually be difficult to deliver in terms of the discourse.

“Without a doubt in our lifetimes there will be a price on carbon,”

“Many other nations are doing it… our price on carbon did reduce emissions significantly and has been used as an exemplar case for other countries looking to adopt that,” Mr Eggleston explained.

When asked if we would be better with a change in government on a federal level, he commented if you want a cheap, reliable, secure and decarbonised energy supply it has to be through renewable technology.

“Both governments have extremely high potential for change, but low capacity to deliver.”

He said in 20-30 years most energy markets around the world will be renewable.

This is not driven by ideology, but by science and economics.

“The party that comes to turn with this the quickest will have the best options in delivering renewable energy for Australia,” Mr eggleston stated.

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