Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

with a 43 per cent reduction in emissions by 2030 and net zero by 2050. What that is doing is driving the opportunities that are there for business to invest, because greater supply of renewable energy at the lowest cost form of new energy will lead to, over a period of time, the lowering of our costs.

The environment minister, earlier on today, spoke about the 50 renewable energy projects that have been ticked off—enough to power more than three million homes. We have seen a 25 per cent increase in renewables in the national grid, we have seen over 330,000 rooftop solar installations in the last year alone and we are already halfway to meeting our 2030 emissions target. This is the progress that we have made over the last two years. We know that there has been an impact on global energy as a result of the Russian invasion of Ukraine. That occurred right around the world. But what we're dealing with is a plan that deals with the immediate cost-of-living pressures through our Energy Price Relief Plan, whilst we're putting in place an energy system that will lead to the cheapest form of energy being provided to households and to small businesses.

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