The Australian government have decided not to go with the 50 per cent renewable energy targeted proposed by the Australian Labor Party.
The announcement was made as part of the 2018-19 Budget speech and cited increased electricity bills as the reason for the rejection.
For anyone unfamiliar with the proposition, it has been a push for the ALP to achieve 50 per cent renewable energy by 2030 as a way to combat climate change.
The ALP have stated that multiple energy scenarios that stay within the carbon budget have been modelled for Australia. They also claim that these scenarios maintain the current structure of the Australian economy and current levels of economic growth.
But the Liberals disagree.
The budget speech takes a dig at the ALPs plans for renewable energy, saying its too expensive. Of course, there is plenty of shade thrown in the opposite direction over on the ALP website.
When in power, Tony Abbott undermined the Small-scale Renewable Energy Scheme and the Large-scale Renewable Energy Target. The Liberal Government has tried to abolish the Clean Energy Finance Corporation who have mobilised $2.20 of private sector investment for every dollar it has invested in Australian clean energy projects. They have also tried to abolish the Australian Renewable Energy Agency thereby destroying our substantial R&D successes and, with his Treasurer, has made embarrassing statements about the ‘aesthetics’ of renewable energy.
Alas, it just isn't going to happen under the current government. Although it does have plans to cut powerbills by $400 a year, starting in 2020.
Here is the entire section from this part of the Budget speech.
And we will not adopt the 50 per cent renewable energy target demanded by the Opposition that will also only put electricity prices up.
All energy sources and technologies should support themselves without taxpayer subsidies. The current subsidy scheme will be phased out from 2020.
And we will keep the pressure on the big energy companies to give you a better deal. Already this has led to households saving several hundred dollars a year.