Tax yes...but long term investment in low carbon technologies the key!

Green light for renewables

Giles Parkinson - Climate Spectator

At a recent discussion in Sydney about the prospect of nuclear energy in this country, Resources and Energy Minister Martin Ferguson reflected that Australia may have no choice but to go nuclear if it was unable to find a clean energy alternative.

It was a valid point. The trouble was that few in the renewable energy industry were confident that Ferguson would want to invest enough money, and early enough, to give them the best chance of developing new technologies and getting the scale of deployment needed to reduce costs.

That need to unblock investment in emerging technologies seems to be the underlying reason behind the push by the Greens and environmental groups for two new statutory bodies, the Australian Renewable Energy Agency, and the Clean Energy Finance Corporation. Both bodies will be independent and will sit beyond ministerial interference. Furthermore, the Australian Energy Market Operator has been commissioned to plan for the time when the Australian grid operates with100 per cent renewable energy.