Greens announce $265.2 million for community-owned renewables
Greens Energy spokesperson Adam Bandt MP today announced $265.2 million for community-owned renewable energy while campaigning in his electorate of Melbourne.
Speaking at a block of 92 apartments in North Fitzroy that is seeking to establish a community-owned renewable project, Mr Bandt said the Greens wanted to unlock the potential of thousands of potential community-owned renewable projects across Australia.
The Greens community-owned renewable plan includes:
- Tax-free earnings for investors. Households and businesses would be eligible for capped tax free profits arising from their investment in community owned clean energy.
- Solar communities fund. $102.9 million to enable community groups, schools and other local institutions to invest in solar and solar storage.
- Community Energy Powerhouses Start-Up Fund. A $150 million start-up fund to get 50 Community Energy powerhouses up and running with up to two years of operational funding.
- Community Power Networks. A further $2 million in annual funding would enable the sharing between community organisations of business models, insights, strategy and information exchange between local clean energy groups.
- Modernise the regulatory environment. The Greens will continue to advocate for changes so that crowd-funding laws better support community renewables, add ‘the provision of information and education on community clean energy’ to DGR status criteria for the environmental register and also remove regulatory barriers faced by community clean energy projects.
“The Greens wants Australia to become a renewable energy powerhouse”, Mr Bandt said.
“Communities across Australia are already stepping up to establish local, community owned projects and we want to support them.”
“Not everyone is able to put solar on their home but by investing in community owned renewable projects they are still able to part of the solar revolution.”
“Australians are fed up with their energy companies. They want to take control of their electricity bills and do their bit to turn Australia’s energy system from one of the dirtiest in the world to one of the cleanest and help tackle climate change.”
“The Greens will help people participate in community-owned renewable energy by providing tax incentives to invest, start-up funding for up to 50 community-owned powerhouses and support for community organisations like schools and churches to go solar.”
The Greens Community Owned Renewable Energy policy is part of our goal of reaching 90% renewables by 2030, led by Renew Australia, a new renewable energy authority.
Read the full policy at www.greens.org.au/community-renewables.
Media contact: Adam Pulford, 0429 109 054