From the Budget reports in the media it is a bit hard to work out what precisely are the allocations for renewable energy. The total is for $2.3 B spread over a number of years.
This needs to be reconciled with other parts of the Budget comments which includes,
Funding for 'clean coal' . . . . $500 M over 8 years Renewable energy . . . . . . . $500 M over 6 years Energy innovation . . . . . . . .$150 M over 4 years (Aust Solar Institute $100M, Hydrogen transport fuel $50M) Green loans (households) . . $300 M over 5 years Nat Water and desal . . . . . . $800 M
Total . . . . . . . . . . . . . . . . . $2250 M
If these are correct it would appear that there is not much funding set aside for all renewables over the next three years. $50M of the $127M will need to be allocated to the geothermal Drilling Fund. Another $373 M should be available 2011-14 but has to cover wind, wave, and geothermal. GDY could easily use all of that as a deposit on its Hotroc500 plant.
One journalist also writes, 'The design of the program to raise the renewable energy target to 20% of power use by 2020 will be completed by September and legislation introduced by next year'. This clearly refers to the Garnaut Report coming out by 30 Sept and its implementation by early 2009. Will a revised funding figure for climate change be forthcoming in 2009? Note that the Government has set up three large funds to $40 B including one for infrastructure. By leaving their structure somewhat nebulous could some funds be diverted to Garnaut recommendations?
Juke
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