Posts filed under 'renewable energy'
RET legislation: the fossils cling on for dear life
The renewable energy target bill has now been passed in Parliament, legislating that 20 percent of electricity will come from renewable sources by 2020. The scheme works by compelling electricity retailers to buy electricity from renewable sources.
Investment in electricity from tidal and wave technologies will get a boost, but the geothermal industry is voicing disappointment that no portion of the target was set aside for it. Considering the huge potential of geothermal energy in Australia, this is a kick in the teeth for large scale renewable energy production.
Industry has again put out its hand, demanding yet more government money. Under new concessions demanded by the Coalition, the number of industries to be compensated for higher electricity prices was increased from three to about 40. Once again the government kneels down before the already massively subsidised fossil fuel industry.
Incredibly, electricity from coal seam methane gas – a coal mining waste product – has been classified a renewable energy source and will earn rewards under the scheme. So coal miners are given renewable credits for burning fossil fuels.
While the government will now be patting itself on the back and promoting its green credentials to anyone willing to listen, there is a long, long way to go before Australia is free from the stranglehold of the fossil fuel industry. And a renewable energy target wouldn’t even be necessary if the market was set up to accurately reflect the true cost of carbon emissions. But that day seems a long way off.
Add comment August 24, 2009
What the REC is this?
Don’t reck the REC
The government has proposed giving five times the normal number of renewable energy certificates (REC) to people installing solar panels on their roof until 2015. This means four out of the five certificates will represent energy that isn’t actually produced!
Extra certificates can act as a financial incentive to install solar panels because installers sell them on to retailers. Subsequently, on paper Australia will be achieving its annual targets for renewables, but in reality achieving much, much less.
Further to this, with so much of the annual targets in the first five years taken up by fake solar hot water RECs, there won’t be enough space within the targets to get large scale projects off the ground – including wind projects that are ready to go now.
This may delay large scale projects until 2015, meaning not just delayed renewables, but delayed investment in jobs too. If people thought that their investment in solar panels could reduce large scale investment in renewable energy, this may also be a significant disincentive to install solar panels.
Continue Reading Add comment August 5, 2009
