Presently, power generation accounts for 35 percent of the total emissions, which is reportedly twice as much as fuel combustion and transport, which accounts for 18 percent.
While Tony Abbot was Prime Minister, the emissions reduction target committed to in Paris is 26 to 28 percent lower than the 2005 level. Because of this, the government has been working to decide on a CET in official policy before the current year ends.
However, the Australia Institute claims that even the Chief Scientist Alan Finkel’s proposed clean energy target would not be enough to satisfy the international duties signed under Abbot.
The Executive director of Australia Institute, Ben Oquist, stated, “This analysis of the economic modelling demonstrates meeting these targets for the electricity sector with a policy like the clean energy target is likely to require 66 to 75 percent of electricity to be supplied by renewables.”
Oquist added, “If Australia adopts a weak clean energy target which does not provide a strong signal for renewables, we risk turning Australia’s moderate Paris targets into an extremely expensive task. It remains to be seen if we choose to meet those Paris commitments the easy way or the hard way.”
Rod Campbell, Australia Institute’s Director of Research and author of the discussion paper said that is contrasting that the government-commissioned plan indicates that policies would “minimise renewable energy penetration such as carbon pricing and an emissions intensity scheme have already been rejected.”
He further remarked, “All that remains is the CET that would bring in the largest share of renewable generation or the prospect of failing to meet our Paris climate targets.”
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