Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Tuesday, July 12, 2011

Australia to Invest $10 Billion in Renewable Energy

Australia to Invest $10 Billion in Renewable Energy

Australian taxpayers will front the bill for what will be the biggest single investment in renewable energy ever.  During negotiations of a new carbon price and diversion away from renewable energy subsidies, interests groups led by the country’s Greens and rural independents ensured that a significant potion of the investment be made into clean energy projects.  The total $10 billion renewable energy investment will be carried out over a five-year period slated to begin 2013-2014.
The Australian government is forming a new Clean Energy Investment Corporation that will manage the public funds for renewable energy projects that otherwise could not acquire
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