The Minister will detail today, in his keynote address at the National Energy Summit, that the falling costs of wind and solar energy, including battery storage capacity, are likely to enable emissions reduction without compromising affordability and reliability.

By Joe McDonough


Posted on October 9, 2017

The Australian Financial Review has today revealed that federal Energy Minister, Josh Frydenberg, is likely to scrap plans to implement a Clean Energy Target (CET) scheme from 2020.

The Minister will detail today in his keynote address at the National Energy Summit, that the falling costs of wind and solar energy, including battery storage capacity, are likely to enable emissions reduction without compromising affordability and reliability.

A CET, as proposed by chief scientist Alan Finkel, would see a percentage of power each year generated by clean energy sources.

There would be a need for a subsidy regime, like the one in place for the Renewable Energy Target, and this would add to the cost of dirty power like coal.

As broken by AFR, Mr Frydenberg will say today: “It is challenging but possible to simultaneously put downward pressure on prices and enhance the reliability of the system, while meeting our international emissions reductions targets.”

“Just as the mobile phone disrupted the landline and the digital camera superseded film, the energy market is being shaped by the so-called Internet of Things, behind-the-meter technology such as solar PV and storage, demand-side responses and increasingly cost-effective utility-scale renewable generation.

“Globally in the past seven years, the cost of wind-powered generation has more than halved. Domestically, solar PV costs have dropped more than 50%.”