Europe beats a retreat from renewables

... The German experience is relevant for Australia given the ALP’s pledge this week to boost Australia’s renewable energy target to 50 per cent by 2030 without any real details on how this would be achieved and the possible cost.

Also relevant is the green energy subsidy train wreck unfolding in Britain since the national election. This week, the Cameron government’s Energy and Climate Change Secretary, Amber Rudd, cut the subsidies to small-scale solar projects following earlier cuts to subsidies for onshore wind, large-scale solar and energy efficiency schemes.

The newly re-elected government also has angered the renewable energy industry with the introduction of a tax on producers of green power.

But Britain and Germany are not alone.

Since the global financial crisis, renewable energy subsidies have been slashed across Europe including Spain, Italy, The Netherlands, Denmark and elsewhere.

The lesson around the world is that while projections for future investment in renewables remain high, the free ride from electricity users in developed nations is coming to an end.

To continue reading Graham's Lloyd article for The Australian click here  

You can also read related articles "Aletrnative energy runs out of steam" from The Independent here and "Renewable power subsidies to be cut back" from the Financial TImes here 



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