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Australian renewable energy sector at stand-still

Australian renewable energy sector at stand-still Habanero EGS Pilot Plant of Geodynamics, Australia (source: Geodynamics)
Alexander Richter 4 May 2015

"The Australian large-scale clean energy industry has become practically uninvestable due to ongoing uncertainty caused by the government's review."

As indicated in a rather bleak overview on the status of geothermal energy development and outlook in Australia given at the recent World Geothermal Congress held in Melbourne, Australia, the renewable energy sector in Australia is essentially at a standstill.

A local Australian newspaper remarks that only a single renwable energy project has been approved in the last 6 months, and that:

“Investment has been stifled by policy uncertainty for over 13 months since the Abbott government’s [Renewable Energy Target] review was announced on 17 February 2014,” BNEF said. “The Australian large-scale clean energy industry has become practically uninvestable due to ongoing uncertainty caused by the government’s review.”

As previously reported, the Abbott Government has been favouring coal and gas over renewables, making the industry suffer and contract.

Source: Sydney Morning Herald