Earlier this month, the political leadership of Tony Abbott was extinguished, to be replaced by a new Australian Prime Minister, Malcolm Turnbull overnight.
With the dawning of Turnbull’s new leadership, many have been questioning whether this new leader, known for having more liberal views than his predecessor, will do more for the renewable energy industry and the climate.
Tony Abbott’s position on renewable energy gave many the impression that he was actively seeking to reduce and discourage the use of renewable energy.
In the past, Malcolm Turnbull has been a supporter of increased use of renewable energy in Australia, and many in the industry have cautiously welcomed the new PM, hopeful that investment in the industry that had almost dried up under Tony Abbott will return with more confidence under a Turnbull government.
In order to form a new Coalition government and to secure the votes needed to oust Tony Abbott, Malcolm has needed to put aside his own views and is retaining the Government policies on renewable energy, however comments made by Environment Minister Greg Hunt recently suggested that attempts to hold the industry back would cease, saying “indeed there are no excuses for not investing and not moving forward”.
The government line on the renewable energy target and energy mix has not changed as yet, but given Malcolm Turnbull’s personal feelings on renewable energy, the market is hopeful of a brighter future for renewable energy and for climate change.