National Energy Guaranteed To Suffer If Stricter 2030 Emissions Reduction Target is Overlooked

Should the government fail to raise its sights, private investment in large-scale solar and wind projects could suffer

The proposed National Energy Guarantee program will see solar and wind investments go down if PM Malcolm Turnbull overlooks the stricter 2030 emissions reduction target as reported by PV Magazine.

The program faced instant criticism for its lack of ambition after ditching its plans to extend and build on the present Renewable Energy Target.

On the other hand, the Labor Party has argued that a 50% RET by the year 2030 will be enough to continue with the present momentum for renewables deployment. If the government fails to focus on its plans, private investments in utility-scale solar and wind projects will suffer and could miss valuable opportunities.

The NEG could be an effective and innovative policy mechanism, but if the target is weak it will deliver less.

Kobad Bhavnagi, BNEF Australia

Click here to read the full story on PV Magazine

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Written by Jon Capistrano

Jon specialises in research and content creation for our outreach campaigns. He’s worked as a technical support representative for Dell, America Online, Xbox and Dodo Australia. He’s an avid scooterist and musician.

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