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 $18 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.
Contrary to the propaganda dished up by the Coalition government, and those that spruik for RE outfits, the subsidies doled out under the LRET do not end in 2020. Far from it.
The LRET target is set by s40 of the Renewable Energy (Electricity) Act 2000…
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