Grattan Institute's renewables shake-up a bridge too far

A new Grattan Institute report proposes a useful policy mechanism - reverse auctions - for increasing the diversity of low emission technologies at Australia's disposal. This would be an excellent replacement for the Clean Energy Finance Corporation, but it's an unrealistic substitute for the Renewables Target.

While there is heated disagreement on what role government should play in supporting low emission technologies, almost everyone agrees we haven’t a hope in hell of keeping global warming below three degrees let alone two degrees, without some pretty radical changes in electricity generation. Whether it be renewables, clean coal or nuclear; none of them are likely to get far based on carbon prices the Australian and international governments are willing to implement over the next decade.

What else should we do other than a carbon price to accelerate improvement of these technologies?

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