As well as being ill-timed, the suggestion that the RET be scrapped and replaced with a reverse auction system has three key weaknesses.
China has begun creating enough solar demand to help ‘mop up’ over-capacity. While in Europe, renewables subsidies feel the crunch of austerity.
The companies’ latest project will cover more than 850 military homes with about 18,000 solar panels generating about 6.4m kWh of electricity annually.
Already millionaires many times over, Mike Fitzpatrick, Tim Roberts and Tim Holmes have gained a five-fold return from their investment in Carnegie Wave Energy.
There are some very good reasons why the Renewable Energy Target is extremely popular – not least of all because it is working.
The presidential candidate wants the wind production tax credit ended – a move that could result in the loss of tens of thousands of jobs.
Carnegie strikes PPA for 2MW wave energy plant as Mike Fitzpatrick emerges with significant stake in Perth-based developer.
Grattan Institute says reverse auctions could be a more effective way of deploying low emissions technologies. Many would agree, although they would argue that the scale of ambition should be larger, and such a scheme should be additional to the RET, rather than replace it.
Instead of adapting to a changing market, Origin is trying to have renewable energy neutered – and thus, throwing investment certainty out the window.
US Navy power cuts; Can-do Newman’s solar boost; and why June’s weather was a one in a million log shot.