It will only take 50 plants like this, and $15 billion spare dollars, to replace the Liddell coal station (8,000GWh), now slated for closure in 2022.
$300m handout to Saudi tycoon for solar farm
Australians are set to pay $300 million in subsidies to an outback solar farm owned by a Saudi Arabian billionaire in a new test of the federal government’s looming energy reforms, escalating a dispute over whether to cut the handouts to keep coal-fired power stations alive.
AGL’s controversial Liddell coal power station in the NSW Hunter Valley generates 50 times as much electricity as the Moree solar farm in the state’s north, which stands to gain big subsidies from households from higher electricity bills until 2030…
But we need more chinese-built glass panels that make green weather-controlling electrons.
Lucky solar power is so competitive. Look at the money roll…
The Moree solar farm generates 150,000 megawatt hours of electricity a year, about 0.08 per cent of the 200 terawatt hours produced on the national electricity market every year. The project is forecast to collect about $50m in payments over the next four years and $90m in the following decade under the existing RET.
Subsidies piled on subsidies? Does one gravy train know where the others are going?
These subsidies, funded by electricity customers, will add to taxpayer aid including a $101.7m direct grant from the Australian Renewable Energy Agency and a $60m concessional loan from the Clean Energy Finance Corporation.
AGL is getting even more:
The Australian yesterday reported that AGL stood to receive $589m from the grants and subsidies for two solar projects over the period to 2030,…
Solar is the future, my foot.
REFERENCE
Crowe, David (2017) Saudi solar tycoon’s $300m handout, The Australian, Sept 19, 2017.