Creating jobs, cutting power bills and reducing emissions by boosting renewable energy are at the centre of the Albanese Labor Government’s Powering Australia plan. This plan will bring cheaper renewable energy to Australian homes and businesses.  

For nearly a decade, Liberal government’s mismanaged our energy policy leaving Australia missing out on the jobs, growth, and opportunities that our abundant renewable resources could unlock.

Business has shown leadership. Government must play its part.

The Albanese Labor Government will close the yawning gap that existed between the former Liberal Government and our business community, agricultural sector and state governments when it comes to investing in the renewables that will power our future. 

The Labor Government will create 604,000 jobs, with 5 out of 6 new jobs to be created in the regions.

It will spur $76 billion of investment.

It will cut power bills for families and businesses by $275 a year for homes by 2025, compared to when it was elected. 

Powering Australia is prioritising growth and investment for the regions that have served as Australia’s engine room for so long – that know energy, manufacturing and resources.  

Under the Labor Government, those regions will continue to power Australia and provide a stream of exports into the future.

Alongside the economic benefits, Labor will reduce Australia’s emissions by 43% by 2030 – which will become Australia’s target under the Paris Agreement, keeping us on track for net zero by 2050.

The Albanese Government's plan will secure our nation’s future, to maximise the benefits of new technology, cheaper energy, new job opportunities and cheaper low-emissions vehicles.  

Australian business, industry, farmers, state and local governments deserve a Government that is in step with them.

Powering Australia is squarely focussed on the economic interests of Australian families and businesses, and it will be achieved with policy that is both realistic and ambitious.  

Australian business wants certainty. The Labor Government will deliver what they need to move forward.

The Albanese Labor Government's Powering Australia plan will:

• Upgrade the electricity grid to fix energy transmission and drive down power prices.
• Make electric vehicles cheaper with an electric car discount and Australia’s first National Electric Vehicle Strategy.
• Adopt the Business Council of Australia’s recommendation for facilities already covered by the Government’s Safeguard Mechanism that emissions be reduced gradually and predictably over time, to support international competitiveness and economic growth – consistent with industry’s own commitment to net zero by 2050.
• Protect the competitiveness of Emissions Intensive Trade Exposed industries by ensuring they will not face a greater constraint than their competitors.
• Allocate up to $3 billion from Labor’s National Reconstruction Fund to invest in green metals (steel, alumina and aluminium); clean energy component manufacturing; hydrogen electrolysers and fuel switching; agricultural methane reduction and waste reduction.
• Provide direct financial support for measures that improve energy efficiency within existing industries and develop new industries in Regional Australia through a new Powering the Regions Fund.
• Roll out 85 solar banks around Australia to ensure more households can benefit from rooftop solar.
• Install 400 community batteries across the country.
• Demonstrate Commonwealth leadership by reducing the Australian Public Service’s own emissions to net zero by 2030.
• Invest in 10,000 New Energy Apprentices and a New Energy Skills Program.
• Establish a real-world vehicle fuel testing program to inform consumer choice.
• Work with large businesses to provide greater transparency on their climate related risks and opportunities.
• Re-establish leadership by restoring the role of the Climate Change Authority, while keeping decision-making and accountability with Government and introducing new annual Parliamentary reporting by the Minister.

Labor’s Powering Australia plan and modelling is available here.

Related policies

• Electric Car Discount
• Community Batteries for Household Solar
• Rewiring the Nation
• New Energy Apprenticeships

Current at June 2022