{"id":5465,"date":"2016-03-29T15:53:09","date_gmt":"2016-03-29T05:23:09","guid":{"rendered":"http:\/\/www.solarquotes.com.au\/blog\/?p=5465"},"modified":"2017-10-25T09:24:48","modified_gmt":"2017-10-24T22:54:48","slug":"whats-turnbull-hunt-renewable-energy-financing","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/whats-turnbull-hunt-renewable-energy-financing\/","title":{"rendered":"What’s Turnbull and Hunt up to on renewable energy financing?"},"content":{"rendered":"
\"hunt

Malcom & Greg rip millions from renewables research whilst claiming the opposite. Sigh.<\/p><\/div>\n

The government\u2019s re-shaping of renewable energy financing during the week has drawn quite a few responses in the media. Some applaud the allocation of $1 billion for renewables, however most of them have accused the PM and the Minister of the Environment Greg Hunt of duplicity and blatant vote-buying in an election year.<\/p>\n

\u201c…we are establishing a new $1 billion Clean Energy Innovation Fund and what that is going to do is every year invest $100 million in the smartest, most cutting-edge Australian clean energy technologies\u2026\u201d said our prolix PM at the joint press conference.<\/p>\n

\u201cThis challenge of global warming, this challenge of climate change, we will beat – we’ll beat that but we’ll beat that by being really smart, by being technically, technologically, scientifically sophisticated and innovative,\u201d he added with the Hon. Greg Hunt, the smiling face of the renewables trashing of the Abbott years, standing next to him. Hunt, up until a couple of days before had said his government\u2019s policy was to abolish both ARENA<\/a> and the CEFC<\/a>.<\/p><\/blockquote>\n

When the PM threw to Gregory, the reborn Minister for the Environment was (of course) all smiles.<\/p>\n

\u201cI’m delighted with this announcement today. There are really two fundamental parts – one is the retention and repurposing of the Clean Energy Finance Corporation and ARENA, the Australian Renewable Energy Agency. That is an important sign, an important symbol and an important practical step in terms of adding to our action on climate change and then the second thing is the creation of, as the Prime Minister says, a billion-dollar Clean Energy Innovation Fund,\u201d he said.<\/p><\/blockquote>\n

The term \u201csleight of hand\u201d was bandied about and the tone of many editorials ranged from an eyebrow-raising questioning to downright snarky. Here\u2019s a couple of examples:<\/p>\n

After congratulating the government on the retention of the CEFC, renewables commentator Giles Parkinson accused the prime minister of performing a \u201cruse\u201d on the Australian people.<\/p>\n

\u201c…the move to de-fund ARENA and create a \u201cnew\u201d fund using money already allocated to the CEFC is nothing but a sleight of hand, and an elaborate ruse by Turnbull to save more than a $1.3 billion and get his new pet-word \u201cinnovation\u201d included in a financing scheme,\u201d he said.<\/p><\/blockquote>\n

Even the response from Tony Wood, the Program Director for Energy at the Grattan Institute<\/a> and former general manager of Origin Energy, exuded suspicion at the announcement.<\/p>\n

\u201c…it remains to be seen whether today\u2019s announcement becomes a sound use of public funding to drive innovation in low-emission technologies through addressing real market failures, or whether the need to save money will lead to an ugly combination of lost opportunity and wasted money.\u201d<\/p><\/blockquote>\n

The staying of execution of ARENA and the CEFC must be seen in the wider context of the election year claims Mike Seccombe of the Saturday Paper. The government has 12 trigger possibilities for a double dissolution where the Senate has twice failed to pass government legislation. The Abbott-era act to abolish the CEFC was twice rejected in the Senate, giving the government a ready-made excuse to go to the polls. However Mr Turnbull has chosen the issue of industrial relations over the environment. Why?<\/p>\n

The truth is the Clean Energy Finance Corporation has been highly effective in doing the job it had been set up to do: attract investment for renewable energy schemes. With $1.4 billion invested in the sector at a 6.1 percent rate of return, any policy to abolish the corporation was nonsensical at best. This success is well understood by the electorate \u2014 a key fact in an election year \u2014 and a double dissolution election based on the rejection of the Clean Energy Finance Corporation would be inviting electoral disaster for the Turnbull team.<\/p>\n

\u201cDon\u2019t trust them\u201d was also the general response on the SolarQuotes Facebook<\/a> news feed. Most of our contributors echoed the view that real innovation in renewables was required to lead us into the future, not grubby political deals. So should the government\u2019s word be accepted on renewable energy financing? We\u2019ll leave the last word to \u201ca journalist\u201d at the presser.<\/p>\n

\u201cMr Hunt, you have repeatedly trashed the CEFC in the past, … and now you’re saying you’re delighted they’re retaining it. Which Mr Hunt do we have to believe?\u201d<\/p>\n

Which indeed?<\/p>\n","protected":false},"excerpt":{"rendered":"

The government\u2019s re-shaping of renewable energy financing during the week has drawn quite a few responses in the media. Some applaud the allocation of $1 billion for renewables, however most of them have accused the PM and the Minister of the Environment Greg Hunt of duplicity and blatant vote-buying in an election year.<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[54],"tags":[397,16],"class_list":["post-5465","post","type-post","status-publish","format-standard","hentry","category-solar-policy","tag-politics","tag-research","entry"],"acf":[],"yoast_head":"\nWhat's Turnbull and Hunt up to on renewable energy financing? - SolarQuotes Blog<\/title>\n<meta name=\"description\" content=\"The Australian government\u2019s re-shaping of renewable energy financing during the week has drawn quite a few responses in the media.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/whats-turnbull-hunt-renewable-energy-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What's Turnbull and Hunt up to on renewable energy financing?\" \/>\n<meta property=\"og:description\" content=\"The Australian government\u2019s re-shaping of renewable energy financing during the week has drawn quite a few responses in the media.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/whats-turnbull-hunt-renewable-energy-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2016-03-29T05:23:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-10-24T22:54:48+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2016\/03\/hunt-turnbull-schemers.jpg\" \/>\n<meta name=\"author\" content=\"Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@solar_quotes\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/whats-turnbull-hunt-renewable-energy-financing\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/whats-turnbull-hunt-renewable-energy-financing\/\"},\"author\":{\"name\":\"Staff Writer\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#\/schema\/person\/cdfada92425341cb1b48bf0bcfa1feb7\"},\"headline\":\"What’s Turnbull and Hunt up to on renewable energy financing?\",\"datePublished\":\"2016-03-29T05:23:09+00:00\",\"dateModified\":\"2017-10-24T22:54:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/whats-turnbull-hunt-renewable-energy-financing\/\"},\"wordCount\":744,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/whats-turnbull-hunt-renewable-energy-financing\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2016\/03\/hunt-turnbull-schemers.jpg\",\"keywords\":[\"politics\",\"research\"],\"articleSection\":[\"Solar Policy\"],\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.solarquotes.com.au\/blog\/whats-turnbull-hunt-renewable-energy-financing\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/whats-turnbull-hunt-renewable-energy-financing\/\",\"url\":\"https:\/\/www.solarquotes.com.au\/blog\/whats-turnbull-hunt-renewable-energy-financing\/\",\"name\":\"What's Turnbull and Hunt up to on renewable energy financing? 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A faux minister gets the nod for a fake gong, news that we\u2019ll fail to meet our renewable targets and another Australian\u2026","rel":"","context":"In "Solar Policy"","block_context":{"text":"Solar Policy","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-policy\/"},"img":{"alt_text":"greg hunt - not his real words","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2016\/02\/total-ghunt.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2016\/02\/total-ghunt.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2016\/02\/total-ghunt.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":3952,"url":"https:\/\/www.solarquotes.com.au\/blog\/greg-hunt-running-scared\/","url_meta":{"origin":5465,"position":2},"title":"Is Greg Hunt running scared?","author":"Staff Writer","date":"August 25, 2014","format":false,"excerpt":"Ever noticed how shrill Environment Minister Greg Hunt is getting these days readers? The man once considered the smiling face of the Abbott's administration's policy of dismantling of renewable energy appears to have lost all control in recent weeks. I refer of course to Gregory's extraordinary attack on John Grimes,\u2026","rel":"","context":"In "Solar Policy"","block_context":{"text":"Solar Policy","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-policy\/"},"img":{"alt_text":"whiteboard with angey face","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2014\/08\/stress.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2014\/08\/stress.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2014\/08\/stress.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":3737,"url":"https:\/\/www.solarquotes.com.au\/blog\/ipas-influence-undermining-renewable-energy-policy-australia\/","url_meta":{"origin":5465,"position":3},"title":"How the IPA poisons renewable energy policy in Australia","author":"Staff Writer","date":"June 16, 2014","format":false,"excerpt":"Ever wondered why our government is so quick to destroy clean energy initiatives? Why the great work\u00a0of agencies such as ARENA is ignored? How the green sector rarely gets a look in when it comes to energy policy? One clue as to the source of this 'slash-and-burn' mentality may lie\u2026","rel":"","context":"In "Solar Policy"","block_context":{"text":"Solar Policy","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-policy\/"},"img":{"alt_text":"The hardcore right-wing IPA hates renewables.","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2014\/06\/hardcore-ipa.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2014\/06\/hardcore-ipa.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2014\/06\/hardcore-ipa.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":5951,"url":"https:\/\/www.solarquotes.com.au\/blog\/election-renewables-news-roundup-week-2\/","url_meta":{"origin":5465,"position":4},"title":"Election renewables news roundup Week #2","author":"Staff Writer","date":"May 22, 2016","format":false,"excerpt":"Used to being marginalised during election campaigns, the renewables sector hasn\u2019t exactly sprung to the centre of attention during the latest most important election since the last one. However there are signs that the two major parties are taking notice of the Australian electorate\u2019s overwhelming support for a strong renewable\u2026","rel":"","context":"In "Solar Policy"","block_context":{"text":"Solar Policy","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-policy\/"},"img":{"alt_text":"turnbull","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2016\/05\/turnbull.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2016\/05\/turnbull.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2016\/05\/turnbull.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":17632,"url":"https:\/\/www.solarquotes.com.au\/blog\/nab-coal-renewables-mb0367\/","url_meta":{"origin":5465,"position":5},"title":"NAB Ends Coal Mine Financing, Creates New Renewables Portfolio","author":"Michael Bloch","date":"December 15, 2017","format":false,"excerpt":"National Australia Bank announced yesterday funding for new thermal coal mining projects was now off the table and a Low Carbon Shared Portfolio, a new way for institutional investors to back renewable energy projects. In announcing its stance on coal, the company said it realised it had important role to\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"National Australia Bank - Renewables vs. coal","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/5465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=5465"}],"version-history":[{"count":3,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/5465\/revisions"}],"predecessor-version":[{"id":5472,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/5465\/revisions\/5472"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=5465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=5465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=5465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}