Australia's Green Energy Push Stalls

0:00Welcome to Sydney News today, two minutes of news that matter to Sydney. The Australian government plans no extra spending next year on its big push for renewable energy across the electricity grid. This move aims to cut costs for the federal budget due out on May 12. Even so, the country is lagging behind its goal of 82 percent green energy by 2030. Earlier this week, sources confirm that funding for new wind and solar farms won't grow. Since labor took office in 2022, billions have gone into these projects, including two billion dollars for the green bank in 20. 25. Officials say recent law changes already speed up approvals, so more cash is needed right now. Analysts from groups like RiceStat Energy, warned delays from investor worries and planning fights, meaning the targets could miss the mark. Green energy has climbed from 35 percent of the grid in 2022 to 43 percent now. But the Australian Energy Market Operator says clean power isn't expanding fast enough

1:03as coal plants close, risking supply and price issues. Meanwhile, Treasury I savings elsewhere, like pulling back $3 billion from electric vehicle lease perks, which helped triple EB sales in, three years. The popular home battery program now funded at $7 billion, looks safe after recent tweaks and is on track for $500,000, installs this year. He has also flowed for 30 percent capital gains tax on foreign sales of green projects. Climate and energy minister Chris Bowen insists the flagship scheme will hit goals, unlocking record investments and jobs. The government has pledged over $70 billion over 20 years for emissions cuts across the economy, including 62 percent by 20. 35 under the Paris Agreement. DNN is sponsored by our partner, check out the episode description. You know what is better than earbuds and bed? No earbuds at all, S-O-L-I, solelypillow.com.