The findings of the review into Australia’s Renewable Energy Target (RET) were due to be reported to government late last week, but yet again they have been delayed. Dick Warburton has asked for more time.
Dick Warburton is a self-professed climate change sceptic and was appointed to head Tony Abbott’s review of the RET. The residential solar power rebates are a part of the RET, and there is a very good chance they will be reduced or abolished if the RET is to be ‘watered down’ as expected.
Recently Mr Warburton was quoted as saying that Clive Palmer’s support of the current RET was disappointing.
“It would be disappointing, it would be frustrating, but that seems to be Clive Palmer,” Mr Warburton told the Australian Financial Review.
This is the clearest evidence yet that the review panel will recommend to parliament significant changes to the RET, and this could spell the end of cheap residential solar for many years.
Residential Solar Power may not be this cheap for many years
The current government incentive on a 3kW solar system is $2,232. On a 5kW system, it is $3,708. If the solar rebates are abolished, a grid-connected solar system will rise by as much as 40%. It will take many years of technological advancements to get back to where we are today.
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