Climate change is driving the most profound restructuring of the world economy this century – the transition from fossil fuel based energy to renewable energy. The transition is happening now and it is accelerating. With the right policies the renewable energy sector provides immense opportunities: it will drive jobs creation; drive manufacturing investment; and put downward pressure on power prices for families and small businesses.

That’s why a Shorten Labor Government will:

• Ensure that at least 50% of the nation’s electricity is sourced from renewable energy by 2030.
• Expand the investment mandate of the Clean Energy Finance Corporation.
• Provide $206.6m to ARENA to support a specific Concentrated Solar Thermal funding round.
• Establish a Community Power Network and Regional Hubs at a cost of $98.7m over four years.
• Ensure the Commonwealth Government leads by example as a direct purchaser of renewable energy.

The Abbott-Turnbull Government has done everything in its power to try and destroy Australia’s share in one of the world’s fastest growing industries with devastating consequences for our country. In the last two years more than 2 million renewable energy jobs were added to the global economy, but over the same period 2,900 jobs were lost in Australia.

In 2014, clean energy investment grew in China (32 per cent), the US (8 per cent), Japan (12 per cent), Germany (3 per cent) and the UK (3 per cent). But over the same period, investment in large scale renewables dropped by 88 per cent in Australia– from over $2 billion to around $240 million.

A strong renewable energy sector will be at the centre of Labor’s response to the challenges of climate change. With the right policies the renewable energy sector also provides immense opportunities: it will drive jobs creation, drive manufacturing investment and put downward pressure on power prices for families and small businesses.