The government has continued its efforts to hurt the renewable energy industry in Australia, recently banning the Clean Energy Finance Corporation (CEFC), from investing in wind energy projects, and this has been extended to small-scale solar projects up to 100kW. Instead the $10bn fund will be restricted to investing in “emerging technologies”.
Set up by the Gillard Government in 2012, the CEFC invests in renewable energy with a mix of 33% solar, 30% energy efficiency, 21% wind and 16% other technologies.
Tony Abbot plans to abolish the CEFC altogether, saying that if a project stacks up economically (i.e without any government investment) then it can proceed as any commercial project would.
Investment in wind energy projects is likely to diminish as a result of this action, and small scale solar projects for the likes of community housing and low income earners is also likely to suffer.
Greens Senator Scott Ludlam said the Prime Minister was trying to “… handcuff our country to the coal and gas industry, doing everything he can to wipe out a low-cost competitor”.
In other news around the world, Demark has set a new record by generating up to 140% of its electricity needs with wind energy, and exporting the rest to Germany and Sweden, showing the world that a 100% renewable energy powered future is possible. The Guardian