Foreigners scoop renewable energy windfalls

Foreigners scoop renewable energy windfalls

Foreign entities will clean up under Victoria’s ‘renewable’ energy target and reverse auction program, with new analysis showing foreign companies make up five of the six funded by the program and about 96 per cent of the generation capacity. Premier Daniel Andrews last month promised Victoria would emerge as Australia’s ‘capital of renewable energy’ as he unveiled a plan to underwrite six new wind and solar farms in the state, generating enough electricity to power up to 650,000 homes. As the Andrews government continues to duck questions over the cost of the program, energy advocates have argued that the bulk of economic contribution from six newly announced solar and wind farms is going overseas.

Australian Power Project chief executive Nathan Vass said taxpayers would be forced to effectively ‘pay twice’ for the program — once when they pay their electricity bill and again through government support of the companies running the solar and wind farms. ‘Australian industry won’t get much of a benefit from this deal’, Mr Vass told The Australian. ‘This will only help manufacturing jobs in China, Europe or the US where most wind turbine and solar panel manufacturers are based’.

State Environment and Energy Minister Lily D’Ambrosio defended the government investment, saying the new wind and solar farms would create jobs, while local content requirements would stimulate local industries.

The new windfarm assembly facility in Geelong – at the old Ford factory – employs 70 people. How people were employed in the Ford factory?

Source: The Australian

Victorian consumers might ‘only’ have to pay twice but NSW Consumers will have to pay 3 times or more:

  1. Electricity bill
  2. Taxpayer funded subsidies for ‘renewable’ energy
  3. Higher prices to pay for ‘Renewable’ Energy certificates
  4. Higher prices to pay for gas turbines
  5. Loss of business and jobs due to blackouts
  6. Capital costs of base load coal-fired power stations which provide backup to the ACT and Victoria