The Centre for Policy Development (CPD) is calling for a major acceleration of the rollout of renewable energy, outlining a package of policy reforms that would radically speed up infrastructure deployment in what it calls a ‘warp speed’ approach.
To meet projected increase in domestic energy demand and government energy transition targets, the report says Australia must facilitate a six-fold increase in the build rate of renewable generation, a five-fold acceleration of transmission, and must build 10 times the historical (pre-2025) capacity of utility-scale storage. While Australia’s energy transition has made tremendous progress – leading to the first decrease in the Default Market Offer in five years – there is still a long way to go.
CPD CEO Andrew Hudson said this is not just about speed for speed’s sake or meeting targets.
“Recent events have made it clear that the renewable energy transition isn’t just vital for addressing the climate crisis, but an absolute imperative to strengthen Australia’s energy security, build a more resilient economy that can compete in a world rapidly moving away from fossil fuels, and provide certainty to investors and communities alike.
“Governments across Australia have made substantial improvements recently, but we still need a distinct shift in prioritisation and a coordinated, whole-of-government effort. That’s why we’re proposing that National Cabinet adopt a ‘warp speed’ agenda to supercharge the transition.”
CPD Economic Director Toby Phillips said significant barriers stand in the way of an infrastructure rollout at the scale and pace required.
“Despite recent progress, Australia is not on track to meet climate or renewable energy targets.
“Workforce shortages and supply chain constraints leave developers hamstrung, complex project planning approvals cause lengthy delays, and policy settings are holding back clean energy capital from getting out the door.
“Australia needs to build out new energy infrastructure at warp speed. Every year, we need to build five or six times more renewable generation and transmission than we currently build each year. This demands a whole system overhaul.”
The report outlines four key reform areas that are essential to a faster transition:
Phillips said all of these reforms must happen in lockstep. “Even if we completely eliminated barriers in one of these areas, the current speed limit would still apply if constraints in other areas are not addressed.”
He also emphasised this approach is not about eliminating regulations and social protections that exist to safeguard communities. “The energy transition needs to leave Australian communities stronger not weaker. Our report sets out a responsible pathway to accelerating the economy’s ability to build energy infrastructure.
“We know what needs to be done. And industry, finance and workers are all ready to play their part. It is possible to change the speed limit, but we need an ambitious, coordinated, strategic response.”
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MEDIA CONTACT:
Katie Braid
katie.braid@cpd.org.au
0405 177 346
