11 Jul '11, 2am

Emissions policy stimulus for renewable energy sector

Wind farm developers have welcomed the carbon tax package as a stimulus for renewed investment across the energy industry. But they warned that the price imposed on polluters must increase even more significantly to make a real difference to renewables. The political uncertainty surrounding carbon policy, along with an oversupply of renewable energy certificates, have hitherto stalled a number of wind farm developments. Yesterday’s announcements, particularly the ambitious target of cutting greenhouse emissions by 80 per cent by 2050, is likely to spur fresh investment and bigger projects. Lane Crockett, Australian general manager of Pacific Hydro, which has wind farms in South Australia, Victoria and Western Australia, said the initial $23 per tonne tax was “OK” as a starting price to reinvigorate spending. “That doesn’t underpin investment in renewables on its own,” he s...

Full article: http://www.eco-business.com/news/emissions-policy-stimulu...

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