Government urged to commit to Clean Energy Transformation Investment Package

External shot of Parliament House in Canberra with beautiful purple sky in the background (clean energy transformation)
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The Clean Energy Council is urging the government to make the clean energy transformation the cornerstone of its economic agenda and delivering major cost of living savings to Australian households and small businesses.

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In its 2024-25 Pre-Budget Submission, the Clean Energy Council has called for the government to commit to a nation-building Clean Energy Transformation Investment Package, which includes:

  1. Continued support for the accelerated uptake of large-scale and small-scale renewable energy and storage and long-term renewable energy targets, with a view to realising the full decarbonisation of the electricity sector by 2035.
  2. A strong start to the expanded Capacity Investment Scheme for renewable electricity generation.
  3. Delivering a cost-of-living package to accelerate the shift by households and SMEs to rooftop solar, batteries and electrification, and improving energy productivity across the economy.
  4. Expansion of the Hydrogen Headstart scheme to stimulate and sustain investment in large-scale early mover projects over the coming decade, as well as major investment allocations for green iron and energy transition minerals processing.
  5. A national offshore wind target to provide investor certainty in relation to the scale and ambition of Australia’s offshore sector, supported by a policy support mechanism which can drive contracting.
  6. Additional capacity within Commonwealth, state and territory government planning and environmental assessment units to expedite project assessment processes.
  7. Development of a National Clean Energy Supply Chain strategy.
  8. Alignment of higher education funding models with industry needs for the clean energy transformation.

In October 2023, the Clean Energy Council released its Power Playbook, an unsolicited submission to the government outlining a strategic package of 45 recommendations to get Australia back on track to reach its target of 82% renewables by 2030 and ambition of becoming a renewable energy superpower.

Many of these recommendations are highly relevant to the Albanese Government’s deliberations for the 2024-25 Federal Budget.

Clean Energy Council policy director of decarbonisation Anna Freeman said that in what will likely be the final Budget to be handed down prior to the next Federal Election, strong and early government coordination will act as an effective downpayment for future growth.

“This year’s Federal Budget will help determine the trajectory not just for Australia’s clean energy transformation, but the most consequential structural reforms to our economy in a generation,” Freeman said.

Related article: Clean Energy Council releases strategic Power Playbook

“Our message to government is to build on the strong momentum from the 2023-24 Federal Budget and other policy measures, to go even further. This includes strengthening investment and infrastructure planning, increasing energy productivity improvements through electrification and developing dynamic, competitive green growth industries.”

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