What the politicians tell you (e.g. Obamas STOU address is that wind power is cheaper. His advisors are lying to him, likely because of crony capitalism. It is all about the money they are raking in.
Australia’s Large-Scale RET is facing inevitable doom – and with it the wind industry – due to the fact that Australia’s commercial retailers decided to kill it off over 3 years ago; refusing, since then, to enter Power Purchase Agreements with wind power outfits. The result has been that commercial lenders have ceased lending for any new projects.
The ‘lender’ of last resort is the Clean Energy Finance Corporation (a taxpayer underwritten renewable slush fund) set up by the Green/Labor Alliance back in 2010.
When the Coalition took charge in 2013, their Finance Minister, Mathias Cormann set out on a mission to scrap it because it makes no sense to have a government entity lending, at heavily subsidised rates, to an already insanely generously subsidised wind industry.
Now that the CEFC is under Environment Minister, young Gregory Hunt’s…
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