Sun Is Setting On Australian Renewable Energy Agency
The federal government is cutting most of the funding for the Australian Renewable Energy Agency. From our perspective the commercial market is strong and getting stronger now that solar's business viability is clear --but still, it's hard to argue that less support for solar innovation from all sectors, including government, can be a good thing. Here's an excerpt:
The federal government plans to strip the Australian Renewable Energy Agency of most of its funding, as well as its ability to give grants now that Parliament has resumed. Remarkably, the ALP, which established ARENA when in government, may allow this to happen. This is an existential threat to renewable energy research, innovation and education in Australia.
The solar photovoltaic industry is big business. It now makes up a quarter of all new electricity generation capacity installed each year across the world, and it's growing at 20 to 30 per cent a year. Together, solar and wind energy make up half of all new generation capacity installed globally and all new generation capacity installed in Australia. A renewable energy revolution is in progress, and Australia is at the forefront. Gutting ARENA directly threatens our leadership position.