The Department of Industry, Science, Energy and Resources (DISER) has produced its Long-Term Emissions Reduction Plan aimed at delivering net zero emissions by 2050.
Launching the Plan, Prime Minister Scott Morrison said it pointed the way to the net zero emissions target while preserving jobs and generating new opportunities for industries.
Mr Morrison said the Plan was guided by five principles: Technology not taxes; expand choices not mandates; drive down the cost of a range of new technologies; keep energy prices down with affordable and reliable power; and be accountable for progress.
“The Plan also identifies the potential for continued technology advances and breakthroughs to unlock ultra-low-cost solar,” he said.
“As part of the annual update to the Technology Investment Roadmap, we have set a stretch goal of solar electricity generation at $15 per megawatt hour.”
Mr Morrison said the Plan recognised the role future technology breakthroughs would play in closing the gap, with new and emerging technologies to reduce emissions by a further 15 per cent by 2050.
“The Plan rules out taxes or a legislated mechanism, because these regressive approaches would impose costs on households, businesses and regions least able to afford them,” he said.
“It includes five-yearly reviews that will enable us to evaluate progress and adapt to advances in technology.”
Minister for Industry, Energy and Emissions Reduction, Angus Taylor said the Plan continued the policies and initiatives already in place.
“It will not shut down coal or gas production, or require displacement of productive agricultural land,” Mr Taylor said.
The 126-page Plan can be accessed at this PS News link.
