Australia faces ‚devastating impact’ by cutting renewable canada goose coats energy target
SYDNEY (Reuters) Plans by Australia to cut back its renewable buy canada goose jacket energy target would canadian goose our web page jacket have a impact on investment in the country sustainable power generation industry, a senior opposition lawmaker said.
Australia is one of Canada Goose Outlet the world biggest carbon emitting countries per person but has seen declining electricity use in the past five years amid rising power bills and cheaper renewable energy options such Canada Goose online as rooftop solar.
As such, the government led by conservative prime minister Tony Abbott wants to redefine a renewable Canada Goose Online energy target (RET) set by a previous center left government in Canada Goose Coats On Sale 2009. Instead of a fixed amount then equivalent to 20 percent of projected energy use in 2020, the government wants to aim for 20 percent of actual energy use, which is far less.
To reach the target, the government subsidizes companies which invest in renewable energy as well as households and small businesses which opt to use Canada Goose Parka such energy. But the cost of renewable energy is higher than the subsidies, so companies pass on costs to customers.
The government and opposition are now negotiating new terms of the RET in hope of giving investors confidence beyond the topparka three year electoral cycle. But they cheap Canada Goose face a deadlock with neither side apparently willing to give ground.
would have a devastating impact, Mark Butler, environment spokesman for the opposition Labor party told the Reuters Global Climate Change Summit on Wednesday when asked about the government so called real 20 percent canada goose store target.
would largely kill any chance of significant new investment. It would collapse the certificate price to the point where even the canada goose black friday sale existing investments would be seriously compromised.
A certificate buy canada goose jacket cheap price is the amount paid by the government canada goose to a company or Canada Goose sale person based canada goose outlet toronto factory on how much Canada Goose Jackets renewable energy they generate or use. Certificates can then be traded between parties canada goose clearance involved in the scheme.
Australian electricity use has fallen to the point where pegging the RET to 20 percent 2018 canada goose outlet of demand would effectively cut the target of 41,000 gigawatt hours a year by 2020 to as little as 25,000 gigawatts, a drop of 39 percent, said Butler.
sort of a change to the existing policy is not something we willing to countenance, he canada goose coats on sale said.
ALUMINUM SPARED Australian aluminum miners have argued they deserve canada goose outlet store locations an exemption from paying any additional costs associated with the RET in their energy bills because sharp falls in the metal spot price have put significant pressure on canada goose deals their industry.
Butler said Labor may agree to exempt the aluminum industry, but rather than force households and other industries to canada goose replica subsidize the 2,000 gigawatt hours used by that industry, it could cut the target by that amount.
Even with that exemption, the target would still effectively push for having a quarter of Australia electricity renewable, Butler added.
Butler said the RET was never meant to be a fixed percentage, but should rather be a set amount of power generation so that renewable energy companies can continue with the certainty that they will be canada goose clearance sale supported.
wasn a ceiling, it was a floor, Butler said.
was always agreed that you had to have a precise generation target, not some floating percentage, if you were going to give investors the sort of certainty that they need to bring billions of dollars to Australia.