Australia might boost subsidies to renewables from $40m to $100m
Aerial view of Habanero-1 in the Cooper Basin, Geodynamics site (source: pesa.com.au)
Alexander Richter
5 Apr 2011
Australia's Resources and Energy Minister Martin Ferguson says Australia may boost subsidies to emerging renewable development including geothermal and ocean power projects.
Reported from Australia is that the country “may boost subsidies to emerging renewable energy developments including geothermal and ocean power projects to more than A$100 million from A$40 million, Resources & Energy Minister Martin Ferguson said today.
Ferguson said independent expert advice has suggested the establishment of an emerging renewables program, consisting of the government’s A$40 million existing commitment and other uncommitted funds.
“Australia’s great potential to produce renewable energy hinges on our ability to develop a range of renewable energy technologies and drive down their costs,” Ferguson said in a statement.”
Source: Dow Jones
