Green Power Running Out Of Puff
Posted by Big Gav
It appears some of my earlier predictions were on the mark - The Age is reporting that RECS prices are falling and as a result planned renewable energy projects may not go ahead.
Its hard to be surprised at the government's complete lack of vision on this topic, but its still annoying.
The renewable energy industry has suffered a severe setback with a collapse in prices putting many proposed wind farms in jeopardy.
Industry proponents blame Federal Government policies and the damaging actions of big hydroelectric companies for threatening as much as $6 billion of investment. They say many proposed projects may now not proceed. Since last year's federal election, the price of renewable energy certificates, known as RECs, has slumped from about $40 a megawatt hour of electricity generated to about $36 because the Howard Government's decision not to increase the renewable energy quota is starving the market of growth potential.
In addition it looks like federal government funding for solar power is also disappearing.
As oil prices hit a record high, the Federal Government is considering walking away from the only scheme that gives consumers a rebate when they purchase rooftop solar power systems.
The photovoltaic rebate program, managed by the Australian Greenhouse Office, gives householders and community groups thousands of dollars back on systems that convert sunlight into electricity as a measure to reduce greenhouse gas emissions.
The scheme has been extraordinarily popular and has more than doubled the number of solar panels on roofs
Stupid dinosaurs.
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