Annual Cost of Australia’s Solar Subsidy Scam Hits $2 Billion & Sends Power Prices Into Orbit

The line that Australia’s rocketing power prices will soon plummet is just a cruel hoax.

The subsidies for large-scale wind and solar under the Federal government’s Large-Scale RET will total more than $60 billion over the life of that scheme: the Renewable Energy Certificates issued under the LRET have already added more than $15 billion to power bills, so far.

And then there’s the billions in taxpayer’s money ladled out by the Clean Energy Finance Corporation in soft loans to wind and solar power outfits, as well as billion dollar gifts and grants from the ARENA fund, eagerly lapped up by renewables rent seekers.

The other game in subsidy town is the Small-scale Renewable Energy Scheme (SRES), which is another Federal government subsidy rort, that benefits householders and businesses who slap solar panels on their rooves.

via Annual Cost of Australia’s Solar Subsidy Scam Hits $2 Billion & Sends Power Prices Into Orbit

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