The Albanese government will struggle to meet its “aggressive” emissions reduction targets, while industry faces hurdles to delivering the energy transition because of delays in building transmission lines, flatlining uptake of electric vehicles, rising costs and a shift in community attitudes, senior business leaders warn.
In addition, rising interest rates, the cost of living crisis and the threat of power outages meant that power companies needed to focus on the reliability of supply and affordability before tackling environmental concerns, he said. “There are a whole lot of challenges, including around rolling out the transmission lines,” Mr Halliday said. “That means that the target is absolutely challenged. It’s an aggressive target.”Nicholas Mumford, managing director of Greenhill Energy, said that to meet the 2050 target, the government would have to work “really hard”. Greenhill Energy’s aim is to upcycle biomass and landfill waste into low-cost clean hydrogen energy. “I think we’ve picked all the low-hanging fruit.
Ampol’s Mr Halliday argued growth in EVs in Australia was being hindered by a lacklustre second-hand market for the cars, as well as the slower-than-expected rollout of fast-charging stations.Constant developments in technology around EVs was leading to the poor resale value of EVs, he said.
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