How federal govt changes to Clean Energy Finance Corporation will affect Australian househholds

Solar panels: What do the federal government changes mean for households, SMH July 19, 2015 Peter Hannam

Environment Editor, The Sydney Morning Herald The Clean Energy Finance Corporation has been told not to invest in rooftop solar. What does that mean for me?

The CEFC is the “green investment bank” set up by the Gillard Labor government that the Abbott government wants to scrap. It has been blocked in the Senate so instead it wants to narrow the CEFC’s mandate by blocking investment in “mature” technologies such as wind farms and solar panels.

The fund, though, exists mainly to find ways to boost the competitiveness of all renewable technologies, from large-scale solar plants to wave and geothermal sources, and energy-efficiency measures.

Earlier this month, for instance, the CEFC joined in a 12-year, $100 million venture with Origin. The energy giant will own, install and maintain solar PV systems for households and businesses. Customers get a fixed energy price for a longer term than would typically have been offered by banks.

The fund is hoping to persuade Treasurer Joe Hockey to rescind the restrictions on its activities. According to Alan Pears, a senior industry fellow at RMIT University, the short-term impact of banning CEFC involvement in rooftop solar PV will be fewer creative financing options for getting solar power with no or low upfront costs. “In the longer term, it will slow the roll-out of more efficient, cheaper and smarter photovoltaicsystems and limit Australia’s potential to develop intellectual property for export.”

What is this large-scale solar we’re hearing about?……… http://www.smh.com.au/environment/climate-change/solar-panels-what-do-the-federal-government-changes-mean-for-households-20150718-giewy8.html#ixzz3gZupHfyv