Today’s analysis by Frontier Economics managing director Danny Price that Labor’s claim that 604,000 jobs would be created by renewable energy is “just plain wrong” and backs in recent research by the IPA on the myth of green jobs,” said Daniel Wild, Director of Research at the Institute of Public Affairs.
Recent research and analysis by the Institute of Public Affairs identified that for every one job created in the renewable energy sector over the past decade, five jobs were destroyed in the manufacturing sector.
Today it was reported in The Australian that three leading energy experts – Warwick McKibbin, Danny Price, and Tony Wood – have questioned the modelling underpinning Labor’s pledge to cut energy bills by $275 a year and create 604,000 jobs by promoting renewable generation. “This is further evidence that the job creation potential of the renewables sector is greatly exaggerated and insufficient to replace the job destruction resulting from policies such as net zero in mining, manufacturing, and agriculture.”
“Australian workers losing their jobs as a result of policies such as net zero in mining, agriculture, and manufacturing will not find jobs in the so-called ‘new green economy’ because it doesn’t exist.”
IPA research also established that the renewable energy sector accounts for just 0.2% of all jobs across the Australian economy, compared with agriculture (3.1% of all jobs), mining (2.5% of all jobs), and manufacturing (7.9% of all jobs).
The research also identified that the renewable energy sector accounted for only 1% of all net jobs created since 2010.
“Both major parties must scrap their commitment to a policy of net zero emissions by 2050 and slash red tape to support jobs in the resources sector,” said Mr Wild.