Loss in business investment in rural areas, if Renewable Energy Target is cut
Still in the dark over Renewable Energy Target changes, ABC News By Bill Brown, 28 Oct 14 It’s shaping up that proposed changes to the RET (Renewable Energy Target) will hit large scale renewable energy industries the hardest and have the least effect on small scale systems such as domestic solar. Some say it’s the ‘thin edge of the wedge’ and that the RET might be wound up completely over time….
The bottom line is that a reduction in the target, and a corresponding reduction in the value of Renewable Energy Certificates will mean that installing renewable energy systems will cost more.
The bigger the system, such as major wind farms, then the more it will cost.
The effect will be one of scale, with large scale industries such as wind farms with huge investments taking a corresponding huge hit.
At the other end of the scale the effect will be minimal.
Dr Matthew Nott is the founder of Clean Energy for Eternity, established in 2006 to promote renewable energy in south east NSW.
He says that a reduction in the RET is “going to see a significant loss in investment opportunity particularly in rural areas such as south east New South Wales………..”http://www.abc.net.au/local/stories/2014/10/28/4116603.htm
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