(Australia) Abbott government extends renewable energy investment ban to solar power

[unhappycamper]

http://www.theguardian.com/environment/2015/jul/12/abbott-government-extends-ban-on-renewable-energy-to-solar-panels

Clean Energy Finance Corporation banned from investing in small-scale solar projects in move industry claims is ‘revenge politics’ that will strangle the sector

Abbott government extends renewable energy investment ban to solar power
Shalailah Medhora
Sunday 12 July 2015 04.57 EDT

A directive banning the Clean Energy Finance Corporation (CEFC) from investing in existing wind technology will also apply to small-scale solar projects, a move that will effectively throttle the industry, the Australian Solar Council said.

The federal government on Sunday confirmed that the $10bn CEFC will no longer invest in wind power, instead focussing on “emerging technologies”.

“It is our policy to abolish the Clean Energy Finance Corporation because we think that if the projects stack up economically, there’s no reason why they can’t be supported in the usual way,” Abbott told reporters in Darwin. “But while the CEFC exists, what we believe it should be doing is investing in new and emerging technologies – certainly not existing windfarms.

“This is a government which supports renewables, but obviously we want to support renewables at the same time as reducing the upward pressure on power prices,” the prime minister said. “We want to keep power prices as low as possible, consistent with a strong renewables sector.”