Was the renewables industry better off under Abbott than Turnbull?

“The result is confusion, concern and dismay. Despite all the talk of the “innovation economy”, the large-scale renewable energy target remains at a standstill, without a single wind farm or solar farm commissioned or built since the Coalition took power in September 2013…The only large-scale projects to get the go-ahead are those funded under the ACT government’s reverse auction program, a testimony to what sound and clear policy can achieve. Other projects such as the big solar farms built in NSW were instigated by Labor and funded by the very agencies that the Coalition wants to dismantle…But even if drought is broken, there’s little chance that the industry can get anywhere near the amount of construction needed to avoid a shortfall in the RET, and therefore penalty payments being imposed on utilities, and ultimately the consumer…Green Energy Markets says 4,400MW of new projects need to be commissioned this year to ensure that even the reduced target of 33,000GWh is met on time…In the last four months, just 8MW of renewables was commissioned, despite renewable energy certificates soaring to record levels of $77/MWh. The obligated parties and the financiers simply do not believe that the policy is solid.

>more> RenewEconomy

 

About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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