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when the imbeciles are in charge of your future...
The solar industry has been left fuming by a letter to the CEFC by Treasurer Joe Hockey and Finance Minister Mathias Cormann in which they direct investments in household and small-scale solar to be "excluded" from the $10 billion fund in future.
The draft investment mandate calls for "mature and established clean energy technologies … to be excluded from the corporation's activities, including extant wind technology and household and small-scale solar".
Currently, about a third of all CEFC investments involve small-scale solar. The corporation, which has produced more than a $1 profit for the government for every $1 invested, was assessing $500 million in finance for solar projects valued at more than $1 billion.
There are 1.3 million rooftop solar systems in Australia and most households receive publicly-backed rebates to install, but the CEFC has made a priority projects that help people who do not own their own homes, those who live in apartments and community groups to invest in solar panels.
This month, a $100 million deal between the profit-making corporation Origin Energy to facilitate solar take up was announced.
The CEFC would not comment on Sunday but solar industry leaders have become aware of the contents of Mr Hockey and Senator Cormann's letter.
Australian Solar Council chief executive John Grimes accused Tony Abbott of playing "cynical politics" after the Prime Minister insisted on Sunday that his government "supports renewables" but wants to "reduce the upward pressure on power prices".
Read more: http://www.smh.com.au/federal-politics/political-news/government-pulls-the-plug-on-household-solar-20150712-gian0u.html#ixzz3fiMVveP0
- By Gus Leonisky at 13 Jul 2015 - 7:50am
- Gus Leonisky's blog
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cynical to the extreme...
Abbott told reporters in Darwin: “This is a government which supports renewables, but obviously we want to support renewables at the same time as reducing the upward pressure on power prices,” the prime minister said. “We want to keep power prices as low as possible, consistent with a strong renewables sector.”
But it has emerged the government’s investment directive also applies to small-scale solar technology like rooftop panels that generate up to 100 kilowatts of power.
One-third of the current funding of the CEFC goes to solar projects, the majority of which are small-scale projects.
Scrapping funding for these projects would impact low-income households and renters and public housing users who cannot afford or do not otherwise have access to their own panels, head of the Australian Solar Council, John Grimes, told Guardian Australia.
“To say this is about lowering the costs of power is cynical in the extreme,” Grimes said. “What they’re doing with this is the precise opposite.”
read more: http://www.theguardian.com/environment/2015/jul/12/abbott-government-extends-ban-on-renewable-energy-to-solar-panels
All designed by petty sneaky ignoramus imbeciles hell-bent on selling more coal and fucup the planet...
twisting the corp...
The Clean Energy Finance Corporation (CEFC) is seeking legal advice after the government instructed it to halt investment in wind power and small-scale solar projects.
On Sunday the federal government confirmed that wind and rooftop solar projects would no longer be financed, instead insisting the CEFC focus on funding “new and emerging technologies”.
The CEFC was seeking legal advice on whether the government’s directive fell within its investment mandate, in line with its usual legal processes.
It will report back to the government on 24 July.
Guardian Australia understands that existing investment in small-scale solar and wind projects will not be affected even if the directive goes through, but rather that it would apply to future funding opportunities.
http://www.theguardian.com/environment/2015/jul/13/clean-energy-bank-seeks-legal-advice-after-coalition-pulls-plug-on-wind-and-solar-projects