Environmental groups have released a report which says a 25 per cent renewable energy target in Australia would deliver jobs and generate $US27 billion worth of investment.
The report was jointly commissioned by the Australian Conservation Foundation, Greenpeace and the Climate Action Network.
It says that the introduction of a 25 per cent renewable energy target by 2020 would help fight climate change and would generate at least 16,000 new jobs.
It also found that renewable sources of power such as solar and wind could create enough electricity to power every home in Australia.
Australian Conservation Foundation spokeswoman Monica Richter says the target would also be affordable.
"It's economically feasible, (and) the renewable energy industry is ready," she said.
Australia's current renewable energy target is 10 per cent by 2020, which is around half the European Union target, Ms Richter said.
