TUESDAY 07 SEPTEMBER, 2010 |
Labor Gains Power - What It Means For Solar Power
It's (finally) official. Rob Oakeshott has made his decision and Australia now has it's next government - Labor, led by Julia
In an announcement a few minutes ago, Independent Rob Oakeshott announced he
will be backing Labor, giving the party the 76 seats needed in order to
continuing governing Australia. Earlier in the day Bob Katter pledged to the
Coalition and Tony Windsor, to Labor.
So what does this mean for Australia's solar power industry?
Labor renewable energy and climate policies and initiatives for the time ahead
- 5 percent carbon emissions cut by 2020, possibly more depending on global
- Any carbon emissions trade scheme delayed until the end of 2012.
- An assembly of 150 people to settle on a price on carbon.
- New coal-fired power stations will be required to incorporate carbon capture
- A "cash for clunkers" program (that siphon money from funding
earmarked for solar power)
- $100 million over four years towards a new Renewable Energy Venture Capital
- Bonus tax deduction of 50 per cent of the cost of the eligible assets or
capital works to improve energy efficiency in buildings.
The "cash for clunkers" program has drawn fire from
and given Labor will be working more closely with the party, it
may have some difficulty in getting the program off the ground; particularly
since the USA's own cash for clunkers appears
to have been a lemon
details on Labor's renewable energy policies
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