Lefties have never really been “good at numbers”…
Australia’s economic hopes go up in smoke.
With fear, loathing and recriminations playing out in Canberra about South Australia’s electricity debacle and the skyrocketing power prices mass blackouts and routine load shedding its obsession with wind power has delivered, Sabine Schnittger and Brian Fisher of BAEconomics have thrown the spotlight back on the Federal government’s family, job, growth and business killer: the Large-Scale Renewable Energy Target.
As STT has repeatedly pointed out, the LRET operates as a $3 billion a year tax on all Australian electricity consumers, designed to be funnelled to wind power outfits as a subsidy: the largest single industry subsidy scheme ever in the history of the Commonwealth.
We’ll start with this wrap up from The Australian.
Bill to prop up green power hits $3 billion a year
6 February 2017
The true cost of subsidising renewable energy generation is estimated to…
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2 thoughts on “Australia’s Renewable Energy Target Already Costing $3 billion a Year, with Much Worse to Come”
My erstwhile opponents on various forums keep telling me I am out of date because onshore wind power is now cheaper than coal. If they are right, why does Australia need to subsise it? Surely companes should be queueing up to install wind turbines to reap the profits that could be made from having a cheaper product.
Your opponents are lying, to try to protect a dying industry. Wind turbines are inefficient, outdated technology. Wind pushers will vehemently deny this, but new technologies have made the huge monstrous space-invading wind projects, totally unnecessary!