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Changes to renewable energy funding announced

- Friday, November 15, 2013

Government cuts ARENA funding  

The Australian Government has announced plans to reduce the Australian Renewable Energy Agency’s funding over the next three years.

According to the Clean Energy Council, the draft bill to repeal the carbon price includes a provision to reduce ARENA funding for new projects by $435 million over the next three years and this would leave the agency with very limited funding to drive the further development of renewable energy.

Clean Energy Council Deputy Chief Executive Kane Thornton said "While current project commitments were being honoured, the proposed changes to ARENA's funding would mean that many renewable energy companies will consider moving off-shore where support for renewable energy innovation is both stronger and more stable.”

Australian Solar Council Chief Executive Officer John Grimes said, “ARENA has played a critical role in supporting world leading solar research and development and ARENA funding support has allowed Australia to remain at the cutting edge of solar innovation. We continue to see world beating solar breakthroughs coming from our highly skilled solar researchers.”

According to ARENA, the announcement does not affect funding for the current year, nor the funding for those projects that have a signed funding agreement with ARENA. Applications for funding through the Emerging Renewables Program, the Accelerated Step Change Initiative, the Community and Regional Renewable Energy Program and the Regional Australia’s Renewables – Industry Program are still being accepted.


(Source: http://ecogeneration.com.au/news/ government_cuts_arena_funding/084292/

THURSDAY, November 14, 2013)