Abbott’s Climate Policy very costly – Financial Analyst’s Report
the Coalition proposal would exacerbate the problem and ”put the final nail in the renewable energy industry’s coffin”
Report blasts Abbott climate plan Sydney Morning Herald ADAM MORTON February 10, 2010THE Coalition’s climate change policy would cost taxpayers more than twice as much as the government’s emissions trading scheme, an analysis has found.A report by carbon market analysts at Bloomberg New Energy Finance said the government’s scheme would cost the budget $1.5 billion over the first four years – less than the $3.4 billion of the emissions reduction fund proposed by Opposition Leader Tony Abbott.It said the Coalition’s claim that the government scheme would cost $40.6 billion was based on a ”strange logic” that confused its market value with its cost to taxpayers. The opposition needed ”to come up with something better and get the numbers right”, it said.It said Mr Abbott’s proposal – allowing businesses and farmers to apply to have the government pay for their greenhouse gas emissions cuts from a fund eventually worth $1 billion a year – failed on three fronts: it was not the cheapest way to cut emissions, could not accurately limit national emissions and was a short-term option only……………..
Clean energy group the Alternative Technology Association criticised the Coalition plan as a potential killer of large-scale renewable energy.
The opposition proposal includes an additional $1000 rebate for rooftop solar panels and solar hot water systems.
But the association’s Damien Moyse said incentives for household solar systems connected to the government’s renewable energy target were already stopping large-scale wind and solar projects from going ahead. He said the Coalition proposal would exacerbate the problem and ”put the final nail in the renewable energy industry’s coffin”
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