<
https://theconversation.com/the-government-will-underwrite-risky-investments-in-renewables-heres-why-thats-a-good-idea-218427>
"Climate Change and Energy Minister Chris Bowen today announced a scheme to
underwrite the risk of investing in new renewable energy generation and
storage.
The expansion of the national Capacity Investment Scheme follows a successful
pilot study with New South Wales. The government paid A$1.8 billion for just
over a gigawatt of capacity, through a combination of batteries and other
storage.
Bowen says the scheme “underwrites new renewable generation and storage,
providing certainty for renewable investors and cheaper, cleaner energy for
households and businesses”. And if all goes well, the scheme will provide a
financial return to taxpayers.
Most of the country still relies on dirty coal-fired power. Several power
stations have already closed and many more have flagged intentions to close.
The ageing fleet is also unreliable, causing power outages. Before coal exits
the system, we need to replace it. This scheme will ensure that happens well in
advance."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
