Abbott Government Bans Investments In Wind farms And Household Solar

The Abbott government has directed Australia’s Clean Energy Finance Corporation(CEFC) to cease investments into “mature and established clean technologies…[they are] to be excluded from the corporation’s activities, including extant wind technology and household and small-scale solar”. Wind farms, as well as residential solar energy systems will be banned from accessing a $10 billion fund in the future.

The CEFC has a third of its investments in small scale solar energy systems, and has made it a priority to provide help to low-income people and retirees who do not own their own homes, as well as those who live in apartments. Such programs offer to help these people invest in solar panels and consequently helping them decrease electricity costs. Current subsidies for solar power can reduce a costs of installation by thousands of dollars. While the new directive will not impact current subsidies already available, it will prevent the starting of new programs that offer leasing and power purchase agreements for commercial and residential installations.

Shadow environment spokesman Mark Butler says, “Tony Abbott is broadening his assault on renewable energy technologies putting thousands of Australian jobs and billions of dollars in investment at even further risk.” In 2014, Mr Abbott has publicly stated his disdain for windfarms, as “visually awful, they make a lot of noise”. This new directive has once again invoked outrage from clean energy supporters.

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