More support announced for renewable energy

THE Prime Minister recently announced that a re-elected Coalition Government will provide further support to new and emerging renewable energy technology as part of a broader plan to develop a clean energy future for Australia.

THE Prime Minister recently announced that a re-elected Coalition Government will provide further support to new and emerging renewable energy technology as part of a broader plan to develop a clean energy future for Australia.

The Minister for Industry, Tourism and Resources, Ian Macfarlane, and the Minister for the Environment and Water Resources, Malcolm Turnbull welcomed the announcement made in Perth on Monday that a re-elected Coalition will provide $75 million in competitive grants to specifically support new and emerging renewable energy technologies.

“This initiative builds on a broader Coalition plan to maintain the productivity and competitiveness of our energy sector while at the same time addressing key environmental challenges such as climate change,” Turnbull said.

“Increased efficiency in energy supply and use, and innovative energy applications will not only help address climate change but will help secure Australia’s energy future,” he continued.

The Coalition said it recognises that public investment in clean energy technology development should continue ahead of the planned introduction of the Coalition’s emissions trading scheme and the recently announced new Climate Change Fund in 2012.

It said this specific support package for emerging forms of renewable energy will assist with the transition to a low-carbon economy.

“Over time all, or almost all, of the world’s energy will need to come from clean energy sources,” Turnbull said.

“We need to harness all available technologies if we are to make the transition to a low-carbon future and we know that significant opportunities exist in emerging technologies, in particular geothermal and wave power.”

The Prime Minister also announced that a re-elected Coalition Government will provide $5 million from the Renewable Energy Development Initiative to help Perth-based company Carnegie Corporation to further develop and assess its proposal for a demonstration wave power plant in South Australia.

“Wave energy is one of Australia’s leading innovative renewable energy technologies,” Macfarlane said.

“This $5 million grant will assist Carnegie to further develop its proposal which could have great potential for both emissions reduction and water desalination”.