Clean energy investors have been given a boost today as the Federal Government closed the book on another review of the Renewable Energy Target, again concluding that the scheme is highly effective in driving the transition of the Australian energy sector at very low cost to consumers.
Clean Energy Council Deputy Chief Executive Kane Thornton said common sense had prevailed.
The Federal Government has announced an $83 million solar research program in partnership with the United States.
The eight-year project will bring together six Australian universities, the CSIRO and the US department of energy.
Its aim is to create new technology that will reduce the cost of solar power.
Source: ABC News
Climate Change Minister Greg Combet announced late this morning that the government will be phasing out the solar credits multiplier of 2 STCs per megawatt-hour to just one six months ahead of schedule on January 1, 2013.
Currently STCs are trading at around $32. With the current multiplier of 2, for a 1.5 kW system in Sydney, Perth, Brisbane and Adelaide this equates to a rebate of almost $2000 and in Melbourne, it’s about $1700. Even if the small scale renewables target is not changed and the STC price consequently rose to $38, the level of the rebate for such a system will drop by around $700 in Melbourne and $800 for the other mainland capitals. However a spokesperson for Minister Combet informed Climate Spectator that the STP would need to be revisited by the regulator in light of this decision meaning it is likely to be reduced. This could mean that the STC price does not noticeably rise above current levels.
Source: Climate Spectator
ENERGY company Synergy is pocketing millions of bonus carbon tax dollars by holding on to the money collected from West Australians for up to a year before handing it over to the Federal Government.
The monopoly electricity retailer already has collected $68 million from households and businesses and will raise an estimated further $150 million before it passes on one cent in tax.
Source: Perth Now
Australia’s first utility-scale solar farm has opened for business near Geraldton in Western Australia’s Mid West region.
The 10-megawatt (MW) capacity Greenough River Solar Farm, which is Australia’s biggest solar photovoltaic project comprising 150,000 panels, was officially opened on Wednesday.
Since the release of the Climate Change Authority’s issues paper on the renewable energy target, public debate on the target has been primarily split between two camps. One is to change it because of the possibility of its delivering more than 20 per cent of electricity generation from renewable sources by 2020. The other is to retain it without change to give policy certainty and maintain investor confidence.
Investor confidence is a term often used by industry but what does it mean? In a sector where a single investment can cost hundreds of millions of dollars, it is critical to ensure project costs are minimised; investors have reasonable confidence in expected returns; and projects are delivered.
Source: The Age
West Australians will soon be able to see the carbon tax proponent of their power and water bills.
While no other state is planning to do the same, from July 1, all WA utilities bills will show a breakdown of the carbon tax proponent.
Source: WA Today
AUSTRALIANS pay 130 per cent more for electricity than Canadians, according to new research – a power premium to rise to 250 per cent once the carbon tax and locked-in price increases take effect.
Source: The Daily Telegraph
The Federal Government is under attack from the Greens, the Coalition and the solar industry after pulling the plug on solar hot water energy rebate scheme yesterday.
Source: The West
Low-cost solar panels and solar batteries will be provided to poor communities in 14 countries in Africa and Asia in the next four years, the UN Development Programme said.
Source: The Business Recorder