Clean energy crucial for avoiding higher prices and lost investment, says CEC Chief Executive

Energy prices will be higher and investment will be lost without continued binding targets, policy stability and bipartisan support for clean energy, according to new Clean Energy Council Chief Executive David Green.

Green made the comments in his inaugural speech at Clean Energy Week.

“Unless investors are confident that any Australian government will remain firm on its commitment to clean energy, the net effect will be higher costs and an Australian economy that is more exposed to the price volatility of international energy markets,” Green said.

“That would be no help to the many Australians struggling with their energy bills.

“Australia needs continued cross-party support for initiatives like the 20% Renewable Energy Target to generate the policy stability required to secure the investment necessary for a clean energy future.”

Green congratulated Prime Minister Julia Gillard for the measures her government has introduced to help build the Australian clean energy industry. He also congratulated former Prime Minister John Howard for having the foresight to introduce the Renewable Energy Target, which has already delivered over $10 billion of investment into the domestic economy.

“Australia is well placed to take advantage of the global economic shift towards a clean energy future which last year saw global clean energy investment of $260 billion - despite the state of the world economy.

“Clean energy can play a key role in freeing Australian consumers from the tyranny of ever-increasing power prices by giving them control of their own energy future, and benefiting from the jobs and prosperity that clean energy can bring.

“We need to show to consumers and communities across Australia that the transformative journey we are on is not a cost to be resented but a new source of economic progress.”