Antinuclear

Australian Conservation Foundation wants the CEFC to be made more effective

 to be truly effective the Clean Energy Finance Corporation should not be constrained by the existing 20 per cent renewable energy target (RET), the ACF says.

 the ACF says the scheme, perversely, limits large-scale clean energy investment to that 20 per cent level. It wants the government to replace RET certificates generated under CEFC projects so they’re essentially not counted towards the overall target.

Corporation to invest $10B in clean energy, 9 news 23 May 12   The federal government will introduce legislation on Wednesday to establish its $10 billion Clean Energy Finance Corporation (CEFC). The corporation, part of the government’s carbon price package, will support renewable energy projects through loans, guarantees and equity
investments.

It will be based in Sydney and is due to start operations in
2013/14….. The Australian Conservation Foundation (ACF) says with
$10 billion at its disposal the CEFC has the capacity to unlock up to
$100 billion in private investment in clean energy over the coming
decades.

“This level of investment is essential if we are to effectively
address climate change,” the foundation said in a media brief released
on Tuesday.

But to be truly effective the Clean Energy Finance Corporation should not be constrained by the existing 20 per cent renewable energy target (RET), the ACF says.

The RET aims to ensure 20 per cent of Australia’s electricity supply
comes from renewable sources by 2020.

But the ACF says the scheme, perversely, limits large-scale clean energy investment to that 20 per cent level. It wants the government to replace RET certificates generated under CEFC projects so they’re essentially not counted towards the overall target.

Alternatively, the foundation says Labor should raise the target above
20 per cent to ensure the CEFC is “unfettered”. ..
http://news.ninemsn.com.au/national/8471597/corporation-to-invest-10b-in-clean-energy

May 23, 2012 - Posted by Christina Macpherson | General News