Despite plummeting prices of renewables the federal government and the BCA insist that emissions discount could be ‘economic system wrecking’
Fresh from shedding the financial combat about firm tax cuts, the Coalition authorities is doubling down on an financial combat about renewable power. And but once more, as they march into battle they’ve the Business Council of Australia as their key supply of financial and political recommendation. What might go flawed?
The value of renewable power has fallen dramatically previously 10 years and can proceed to fall for years to return. By some accounts, new renewables with storage are already cheaper than coal fired energy stations. Some argue that they aren’t fairly there but. But nobody argues that in 30 years time a brand new coal fired energy station that has to purchase coal, will have the ability to compete with a photo voltaic farm that will get its sunshine at no cost.
Related: Energy deadlock is Australia’s ‘largest failure in public coverage’, Business Council says
The science of local weather change signifies the financial dangers posed to Australia are each materially vital and proportionally larger than for many different international locations … world carbon pricing is inevitable … [and] given these financial dangers, Australia must act to decouple power and emissions progress from financial progress, or we’ll face steadily declining competitiveness as world carbon pricing and different controls enhance.”
Related: Business Council says Australia’s failure to cross company tax cuts a ‘colossal mistake’