RET Review – more rebate cuts for solar coming

Only in Australia could you get away with putting a fox in charge of the review of henhouses.

A fiscally responsible government is to be welcomed, but not one that cuts programs that aren’t even funded from the government. The government is hell bent on stopping these renewables, even thought they don’t cost the government budget one cent. So, they put a climate change sceptic and former coal power station boss on a committee to rule on whether renewables are worth supporting!

Surprise!!  The former fossil fuel fanboys have recommended scrapping the support. Fox decides best way to deal with henhouse is eat the hens!

In the first place the Renewable Energy Target legislation was setup with clear, long term targets and funded partially by polluters, partially by people installing solar and partially from electricity bills (very small amounts – much smaller than the network charges for example).  It was recognised that stability drives investment.

The RET review is deeply flawed because it does not accept the fundamental purpose for the RET – to increase the supply of renewable electricity – which it is doing in a highly effective manner. The obvious consequence of the RET is that coal burning and carbon emissions will decrease and coal power stations will close. For example, in July nearly 50 per cent of South Australia’s electricity came from wind and photovoltaic systems; mostly deployed as part of the RET. Importantly, the grid remains stable and carbon emissions are falling rapidly. – Climate Spectator

Now they have removed the stability from the market, and wish to destroy the Renewable Energy Target, putting millions of dollars of investment at risk, with no change to the budget bottom line.

None of the existing subsidies to the coal industry are under threat though…

What does this mean for you ?

If you are considering solar in the next 12 months, it might be a good idea to take advantage of the current rebates that are available. If your timeline is longer than that, it’s hard to say.

If you support solar, particularly if you live in a marginal electorate with LNP members, get in touch to tell them this is madness.

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