Antinuclear

Australian govt’s Budget – no interest in renewable energy revolution

The importance of the green revolution, the multi-trillion dollar clean-tech industry that the world’s largest companies predict will emerge within the next decade does not seem to register in our policy-making.

BUDGET 2011: Lean on clean,CLIMATE SPECTATOR,  Giles Parkinson, 11 May 2011,  This was not a good budget for the clean energy industry.

A whole host of schemes were either cut, closed, recycled or pushed back beyond current spending horizons. Some of the measures were expected, or even warranted. Others reflect that Australia finds it hard to see itself as an innovator and developer of new technologies.

The importance of the green revolution, the multi-trillion dollar clean-tech industry that the world’s largest companies predict will emerge within the next decade does not seem to register in our policy-making.

The most egregious example of this is the so-called Renewable Energy Venture Capital Fund, using $100 million to try and help develop new technologies and new ventures to overcome the so-called “valley of death” – the funding drought that looms like a grand canyon in Australia…… funding decisions reflect the government’s lack of urgency. The emerging renewables fund, a $100 million fund designed to help technologies like wave and geothermal develop pilot and demonstration plants (and mostly funded from unused monies allocated elsewhere in past years), remains intact, but the election promise to allocate some of the funds by June 30 will not be met because applications will only be called “in the next few months.”

Australia’s other big opportunity to lead the world in clean technology – large-scale solar – is also being snubbed. As promised in the election, some $220 million of the $1.5 billion Solar Flagships program is being re-directed and pushed over the forward estimates.

This will not affect the two large projects – one solar PV and one solar thermal – that will be chosen for round 1, but it does push out the round 2 developments beyond 2015/16; applications will not be called until 2013/14. The industry considers that it is this second round – with the potential of multiple, smaller projects involving a range of technologies – that is essential for solar to bring its costs down towards wind and provide some real and much needed competition in the local renewables market….

CLIMATE SPECTATOR, BUDGET 2011: Lean on clean | Giles Parkinson | Commentary | Business Spectator

May 12, 2011 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, politics