govt funding

A report by Ernst & Young has found the Federal Government's aim of increasing the market share of renewable energy to 20 percent by 2020 is not attracting the investment necessary to meet the target. The report says the main reason for the lack of investment has been the uncertainty over interim Mandatory Renewable Energy Targets after 2010. Ernst & Young says only A$3 billion has been invested in the renewable energy sector, and a further A$23 billion will be required in order to meet the target. Page 20.
Victoria is in a prime spot to attract the most investment in renewable energy in the long term, according to an Ernst & Young report. The report into the Federal Government's Mandatory Renewable Energy Target scheme estimates that investment in the sector will surge to A$2.3 billion annually by 2020. Page B3.