Antinuclear

Falling cost of renewable energy in Australia

Renewable energy: what would Warren do? ABC MARY ANN VAN BODEGRAVEN , 13 FEB 14,“……..In Australia, the cost of renewable energy is falling. In a report released in December, the government’s own Bureau of Resource and Energy Economics found that some renewables, such as on-shore wind, are already cheaper than new-build fossil fuel alternatives. The report also found that by 2030 the most cost effective energy option will be solar.

This is great news for Australia. As one of the sunniest countries in the world we would be on track to create a low carbon, low cost, economy.

Unfortunately the various reviews together with the intended scrapping of the carbon price, is leading to considerable uncertainty for energy investors and will significantly delay Australia’s transition to a competitive, renewable energy supply. Australia is at risk of going backwards.

This uncertainty couldn’t come at a worse time. As the investment phase of Australia’s mining boom draws to a close and manufacturing in Australia comes under increasing pressure, the government and business community is faced with critical decisions about how to diversify and future-proof the economy.

Such decisions will require clear heads and sound analysis. The economic future of our country is at stake, as is the health and wellbeing of the planet and the species that live here.

Warren Buffett has done the analysis and is making his move. The question is, will Australian investors be able to follow Buffett’s lead, or will they be held hostage to vested interests and old technology?

The Prime Minister has an opportunity with these reviews to look beyond the personal views of a few .http://www.abc.net.au/environment/articles/2014/02/13/3943348.htm

February 13, 2014 - Posted by Christina Macpherson | Uncategorized