Climate change
Funding of $2.3 billion over 5 years will be provided to implement a range of climate change measures.
These include the Federal Government’s election commitments to introduce a domestic emissions trading scheme in 2010, and to expand the renewable energy target and establish the Department of Climate Change.
Other initiatives will be designed to:
- help Australian households make their homes and communities more energy and water efficient, including $300 million over five years allocated to the Green Loans Program which will help households install solar, water and energy efficient products and a further $150 million over five years for installing insulation in rental properties
- help Australian businesses reduce their impact on the environment through the Clean Business Australia initiative including grants ($240 million over four years from 2008-09), and the Clean Energy Enterprise Connect Centre ($20 million over four years)
- support research and development into improving energy efficiency and developing clean energy options, including renewable energy and clean coal technologies through the Energy Innovation Fund ($150 million over four years), the National Clean Coal Fund ($500 million over eight years), the Renewable Energy Fund ($500 million over six years from 2009-10), and the Green Car Innovation Fund ($500 million over five years from 20011-12)
- assist countries in the region to prepare for and adapt to the effects of climate change ($150 million over three years)
- improve the ability of primary producers to respond to climate change and manage their emissions through the Farming Future Initiative ($130 million over four years), and
- assist Australia’s forestry industry through the development of a Forestry Adaptation Action Plan and assessment of the capacity of forests to sequester carbon.
Solar power rebate to be means-tested
The Federal Government will restrict the availability of rebates for households installing solar power. The Federal Minister for the Environment, Peter Garrett, says the change is aimed at ensuring the rebates of up to $8,000 go to households in most need. Access to the rebates will now be restricted to households with an annual taxable income of less than $100,000, which is in line with the means-test on solar hot water rebates.
