We’re told “clean” energy is a viable and cost effective.
But cut the government subsidies, and 97 percent of investors vanish (in
Australia it’s collapsed from $2.6b annually to $80m). The truth is that
renewables are almost totally dependent on taxpayer largess. No wonder they
lobby like their life depends on it. It does.
“Australia’s investment in renewable energy all but dried up in the
first half of 2014 amid uncertainty fuelled by the government’s latest review
of the mandatory target, according to Bloomberg New Energy Finance.
In the six months to June, just $40 million was invested in large-scale
renewable energy, such as wind farms, the lowest level since the first half of
2001, according to Kobad Bhavnagri, head of BNEF’s Australian unit.
The investment tallycompared with $2.691
billion in 2013, the second largest annual inflow of funds to the clean energy
sector behind the peak year of 2010.”
Elsewhere investment in renewables has slowed from its
peak in 2011 but still running at $64b a quarter, or nearly $700 million every
day. Spot that vested interest!
“Global clean energy investment surged to $US63.6bn in the second
quarter of 2014, up 33% compared to the first quarter and 9% compared to Q2
2013, according to the latest authoritative figures from research company
Bloomberg New Energy Finance”
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