Antinuclear

Tony Abbott’s program for killing renewable energy in Australia

 here are the five ways that an Abbott Government could kill renewables: 

• Can the Carbon price:……  taking away the carbon price also increases the risk around investment in any sort of generation – be it fossil fuel or renewable. So, perversely, it will probably help increase the cost of electricity. 
• Can or dilute the Renewable Energy Target …
• Can the Climate Change Authority….. 
• Can the Clean Energy Finance Corporation…. 
• Cut funding to the Australian Renewable Energy Agency…..  It would be an appalling step backwards.

Five ways Abbott could kill renewables in Australia, REneweconomy, By Giles Parkinson  21 June 2013 Apparently, one of the few areas of bipartisan agreement in the heated politics of this country is in the area of renewables. Both major parties – Labor and the Coalition – say they support the 20 per cent renewable target, but it doesn’t actually mean what it says.

Indeed, Tony Abbott may well want to have his photo taken next to a wind farm (well, maybe not), or a solar array in the lead up to the election. Behind the scenes, however, he is under intense pressure to pull them down.

The failure of the so-called “wind fraud” rally to generate much interest among its supposed supporters or the media may indicate the influence of the “loony right” is not as great among the general public as is supposed. But the Coalition is full of rhetoric about renewables that is fed by ill-informed climate skeptic and anti-renewable energy blogs. And there is huge pressure on the Coalition from within its own ranks, the conservative state governments, the incumbent energy industry, and numerous conservative think tanks to take action to curb the expansion of renewables.

So, here are five ways that Abbott’s team could effectively kill the development of renewables in Australia. The irony is, these policies – or the mere threat that they might be imposed – are already having an impact, particularly among the financiers who have long-time horizons for their investments.Ernst & Young last month ranked Australia as the fourth-most attractive country in the world on the basis of its suite of policies – carbon price, renewable energy target, the Clean Energy Finance Corporation, the Australian Renewable Energy Agency, and the feed in tariffs.

Yet, investment in Australia – apart from rooftop solar PV, which is now being financed almost exclusively by households and individual businesses – is stalled, because of policy uncertainty and fears that most of the building blocks cited by E&Y are in danger of being torn down or removed.

Indeed, the only projects that are likely to get financing in the next few months are those being co-funded by the CEFC, and possibly ARENA (although these will have longer lead in times). But the Coalition is so horrified by the role of the CEFC that it is putting pressure on banks to back off, and to tear up any contracts.

So here are the five ways that an Abbott Government could kill renewables:

Can the Carbon price:……  taking away the carbon price also increases the risk around investment in any sort of generation – be it fossil fuel or renewable. So, perversely, it will probably help increase the cost of electricity.

Can the Climate Change Authority…..

Can the Clean Energy Finance Corporation….

Cut funding to the Australian Renewable Energy Agency…..  It would be an appalling step backwards. http://reneweconomy.com.au/2013/five-ways-abbott-could-kill-renewables-in-australia-75916

June 21, 2013 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, election 2013, energy, politics