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Reported Plunge in Renewable Costs Prompts Aussie Government to Pull Subsidies

“Of course, if claims of renewable and energy storage cost parity with fossil fuels all turn out to be a pack of marketing spin, with market normality restored most existing Aussie renewables businesses will die by the invisible hand of Adam Smith.”

ADAM Smith’s hand has just become the most feared wrecking ball within the green centrally-planned ‘Unreliables’ industrial gulag!

VIVA LA Capitalism and free market forces to finally drive down the obscene cost of Australia’s green-spiked power bills.

Watts Up With That?

Guest essay by Eric Worrall

The Australian government is so impressed by the alleged plunge in renewable and battery storage costs they think it will no longer be necessary to subsidise renewables.

Coalition rethinks need for clean energy target as renewable cost plunges

The Turnbull government is rethinking the need to adopt a clean energy target, believing the rapidly falling cost of renewable energy means there may no longer be a requirement for subsidies.

In the keynote address to The Australian Financial Review National Energy Summit, federal Energy Minister Josh Frydenberg will highlight the falling costs of wind and solar energy, including battery storage capacity, as he stresses emissions reduction cannot come at the expense of reliability and affordability.

It is challenging but possible to simultaneously put downward pressure on prices and enhance the reliability of the system, while meeting our international emissions reductions targets,” he will…

View original post 377 more words

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