Federal leader of the Palmer United Party and Member for Fairfax Clive Palmer has backed recent statements from the Clean Energy Finance Corporation (CEFC) that improving energy productivity was a way of improving economic growth in Australia.
Mr Palmer said he agreed with the views of CEFC chair Jillian Broadbent AO that improvements in energy productivity could also drive improvements in other areas including capital and labour productivity.
The CEFC has pointed to Climate Works research showing how Australia could nearly double its energy productivity by 2030 by modernising energy systems and encouraging the take up of new technology. That means Australia could generate almost twice as much output from every unit of energy, it says.
“The CEFC is correct when it says that cutting energy costs and switching to self-generated renewable energy is extremely important for Australian businesses,’’ Mr Palmer said.
As a nation, we spend more than $120 billion a year on energy. But with the right equipment, businesses can lower energy and operating costs, cut heating, cooling and lighting bills and even create energy from waste, according to the CEFC.
Mr Palmer said the CEFC, which the Palmer United Party saved from being abolished by the Federal Government, did an invaluable job assisting businesses make lasting transformations to their operations in order to make energy productivity gains and help the environment.
The CEFC invests using a commercial approach to overcome market barriers and mobilise investment in renewable energy, energy efficiency and low emissions technologies.
Since its inception, the CEFC has committed over $1 billion in finance to investments in clean energy projects valued at over $3 billion.
“Despite the huge advantages for Australian business and the environment, the Abbott Government still has a bill on the notice paper to abolish the CEFC which would jeopardise $3 billion of funding to support projects, and they have also moved to reduce the RET,’’ Mr Palmer said.
“The Abbott Government cannot be trusted to act in the best interests of the Australian people or the environment,’’ he said.
Mr Palmer said the Palmer United Party had achieved what the Greens were unable to in preserving the CEFC and Climate Change Authority, delivering an ETS and retaining the Renewable Energy Target (RET).
“The Palmer United Party is delivering real results for everyday Australians and the environment through a common-sense approach,’’ he said.