Our award-winning treasurer is forcing the nation to spend $8.9 billion on wind-turbines, to generate electricity which will be3- 4 times more expensive than coal powered electricity, probably won’t reduce CO2 at all, and which definitely won’t change the weather. Victoria’s windfarms have saved virtually no coal from being burnt. South Australian windfarms have saved 4% of their rated capacity in fossil fuels at a cost of $1,484 per ton.
MORE than $8.9 billion will be spent importing wind turbines because of the blowout in the Gillard government’s renewable energy target, providing few if any benefits to local industry, one of the nation’s biggest electricity generators warns.
The Australian can also reveal that a new Frontier Economics analysis commissioned by Macquarie Generation has found that the renewable energy target could slash the value of coal-fired power stations by between $11.3bn and $17.3bn – potentially having a greater impact than the carbon tax, which includes industry compensation.
In a new submission to the Climate Change Authority, Macquarie Generation said that 2500 wind turbines – costing $12.7bn – will be needed to comply with a scheme that is set to blow out the amount of renewable energy in the system to [...]