Information out so far indicates that renewable energy will remain subsidiased under the current Renewable Energy Target scheme which lasts until 2030. It would be too controversial to change this again (after reducing the 2020 target in 2015). That is very important.
So nothing really changes for IFN apart from dashed hopes that a new clean energy target scheme is enetered into making the business even more attractive. But that is just for now.
Energy policy has changed with every change of government in the last few years Rudd / Gillard to Abbott to Turnbull = carbon tax to no carbon tax to revised RET in 2015 to today's announcement. If Labor wins the next election then expect energy policy to change again in favour of renewables.
Given evident climate change, a strong effort globally to move towards clean energy, strong public support in Australia for clean energy, renewable energy cost decreases and upcoming energy storage technologies, a bright future for renewable energy is inevitable.
It will be interesting to see Labor's response to this and if the Coalition can implement the policy without any trouble.
IFN Price at posting:
73.8¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)