Antinuclear

Solar energy in Australia – whacked by the power of polluter lobbyists

The situation in Australia is problematic because renewables, and climate policies in general, are clearly a political football.

A solar policy of ill repute | Climate Spectator, Giles Parkinson, 17 May 11, “…….The renewables industry has experienced multiple policy convulsions over the past decade that have stalled its development, but none may be so damaging as the decision last week by the NSW government to make retrospective changes to its feed-in tariffs.
The loss of faith and reputation from the breach of contract extends far beyond the 120,000 households that are impacted by this decision. The state government may be able to protect itself from legal action, but not from the hesitancy of international investors, who – already befuddled by the confusion of policies at a federal and state level in recent years – will take particular note. ….
The situation in Australia is problematic because renewables, and climate policies in general, are clearly a political football. The sovereign risk – here about the consistency of policy rather than of government bonds going pear shaped – is compounded because the federal coalition has promised to repeal a carbon tax if elected, effectively applying a 50 per cent discount to the anticipated carbon price; the Victorian government has brought the local wind energy industry to a halt, and now NSW has taken this action with solar. Clearly, there must be something in conservative waters……
Indeed, the power and influence held by the three big energy retailers on the eastern seaboard – Origin, AGL and TruEnergy – over the renewable energy industry – large-scale developers are beholden to them if they want to strike a power purchase agreement – has become an area of great disquiet, but that is another story…..
A solar policy of ill repute | Climate Spectator

May 17, 2011 - Posted by Christina Macpherson | New South Wales, solar | solar