Love News

Solar to be boosted by Carbon Tax

The Federal Government's Carbon Tax will direct $13billion into Australia's renewable energy sector, and reportedly secure future foreign investments worth tens of billions of dollars for the solar industry.

Yesterday's announcement by PM Julia Gillard in Canberra stated carbon will be priced at $23/tonne for the country's biggest polluters starting July 1 next year, with the aim of seeing them reduce their emmissions to save money.

It is seen by the green energy sector as a big win for solar.

To assist companies the Government will develop a new Clean Energy Finance Corporation which will invest $10billion to help businesses develop innovative clean energy proposals, and an Australian Renewable Energy Agency to manage an existing $3.2billion of existing funding.

The goal is to have 20% of Australia's energy from renewable resources, like solar, by 2020.

John Grimes, Chief Executive of the Australian Solar Energy Society, says that as a result we will see solar on steroids.

Electricity prices are also set to increase by 10%, so there's no better time to install a Love Energy solar panel system for your home.

For more details, read SMH's full story...

http://www.smh.com.au/environment/climate-change/government-to-pump-13b-into-clean-energy-20110710-1h8jc.html