The federal government of Australia has assigned a number of experts to lead and govern the Clean Energy Finance Corporation. It’s role is to provide impartial and expert handling of the country’s affairs in regard to renewable energy investments in the private sector and Jillian Broadbent,a renowned board member of the Reserve Bank,has been appointed as chair person.
As part of the country’s Clean Energy Future Package the CEFC’s primary task is to provide a financing source for renewable energy investments, energy efficiency upgrades and low polluting technologies. The CEFC will also be supporting industries that directly affect clean energy technologies such as solar power for its development and further research.
Investors are also pleased about how the CEFC will work; the new sources of finance will open doors of opportunity across industries to reduce their environmental impacts and to save money through various energy efficient means. Chief executive of the Clean Energy Council, Matthew Warren, said the proposed CEFC was a necessary and logical institution.
According to the Australian Conservation Foundation (ACF)the combination of the carbon price and the CEFC will be the most economically viable way of propelling and commercialising renewable energy technologies in the country; specifically solar PV, solar thermal, geothermal and wave power. The support mechanism of the CEFC through loans and loan guarantees will create more sustainable green jobs in the country and help fund the transition to a low carbon economy.
By March 2012 the body is expected to release a concrete plan on how specifically it will work and its primary responsibilities throughout the transition, especially when the carbon tax is implementedin July 2012. Although the CEFC will not operating until 2013 the government is already laying the foundation for the necessary body to fulfill its essential responsibilities in the overall achievement of Australia’s renewable energy targets.
No comments:
Post a Comment