So much for " Cheap ...And Green " ......
And from your ABC:A multi-billion-dollar plan by the federal government to spur renewable energy investment needed to meet the country's green power targets could create "zombie" projects that never get built, an analyst has warned.
Green Energy Markets director Tristan Edis said the Commonwealth's capacity investment scheme was so ambitious it risked attracting projects that were unviable or had no realistic prospect of success.
Under the scheme, which the government unveiled in November, taxpayers are set to underwrite a wave of new green energy projects via a series of tenders over coming years.
While the government has declined to reveal how much the scheme is expected to cost, estimates have suggested the bill could run to $67 billion.
Mr Edis said the government would need to commit to a whopping 8 gigawatts of generation capacity every year to 2027 in order to meet its 82 per cent renewable energy target by 2030.
By contrast, Mr Edis said Australia had never built renewable energy projects at such a rapid rate before – committing to less than 1.5GW of mostly wind and solar power last year.
He said the scale and complexity of seeking so much new capacity was a monumental task fraught with risk.
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