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Australian budget elicits wailing from the subsidy seekers
Reposted from Dan Cass & Co
This budget reflects the pessimistic view of solar and wind industries held by Martin Ferguson, Minister for Resources and Energy. There is $60 million additional funding for emerging geothermal and wave technology, regulation of renewable energy markets but mostly this budget shifts big money out beyond the forward estimates or cuts it outright.
Solar Flagships $850 million remains in the forward estimates from the promised $1.5 billion for building large scale solar PV and solar thermal power stations. This is a hit on Australia’s solar sector of $650 million over forward estimates.
(Funds remaining in Solar Flagships are 2011/2 $163.3 mill, 12/13 $163.1 mill, 13/4 $241 mill, 14/5 $283 mill.)
Previous cuts announced to pay for natural disasters cut $150mill and another budget line has cuts of $220mill. In theory the rest of the $1.5 billion program “will be restored beyond the forward estimates”, which means little if anything.
Connecting Renewables is necessary for the growth of the renewable sector, because our grid is old and was designed around coal-fired electricity. Most developed countries are putting billions into “smart grids” that facilitate renewable energy and energy efficiency. This budget has $1.4 million over 3 years to support design work on how to connect renewables to the grid. This is a key election commitment which has turned into failure.
National Solar Schools grants up to $50,000 for solar panels, solar hot water, water tanks and other measures to save energy and water in schools. This has been cut by $156 million and will see the program close early, on 30 June 2013. The remaining funds will now be directed to prioritise spending in poor and remote areas, in accord with new guidelines due out on Budget night.
Renewable Energy Venture Capital Fund is necessary for innovators who want to take their innovation to market here in Australia. In the past, solar researchers like Dr Green and his student Dr Zhu took their intellectual property to the USA and China, because Australia would not invest in them.
Source: http://tallbloke.wordpress.com/2013/05/15/australian-budget-elicits-wailing-from-the-subsidy-seekers/
