New renewable energy funding a step in the right direction
12 May 2010
NATIONAL: Australia’s clean energy industry has welcomed the Rudd Government’s increased investment in renewable energy and energy efficiency in the 2010 Federal Budget, but says much work is still required. The Federal Government will provide $652.5 million over four years to establish a Renewable Energy Future Fund as well as $1.8 billion for the Resource Exploration Refundable Tax Offset, under which technologies such as geothermal and wave will be eligible. Clean Energy Council Chief Executive Matthew Warren said the new funding initiative was consistent with industry submissions and reflected the development of a more sophisticated strategy to nurture Australia’s fledgling clean tech industry. “Australia has genuine potential to pioneer new affordable and innovative ways of generating clean energy,” Mr Warren said. “If we want to be a smart clean tech innovator then the companies developing these technologies need the capital to fast track their projects and show us what they can do. Read more... For media enquiries please call Mark Bretherton 03 9929 4111 or 0413 556 981.
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