Community opportunity to invest in solar
COMMUNITY OPPORTUNITY TO INVEST IN SOLAR
Canberra residents will be provided with a new opportunity to invest in solar power under a community solar feed-in tariff (FiT) from the ACT Government.
Minister for the Environment and Sustainable Development, Simon Corbell, said the community solar initiative would provide opportunities to people who were unable to take part in previous feed-in tariff programs.
"Around one in 10 Canberra households already have roof-top solar, however this new initiative will be accessible to renters and people living in flats and apartments who previously missed out on the benefits of solar," Mr Corbell said.
"The Government's new Canberra Community Solar initiative will allow households to pool their resources to develop new large-scale solar installations, with a guaranteed income stream.
"The FiT provided for under the initiative will be up to 20 cents per kilowatt hour for 20 years, slightly higher than the nation leading price achieved by successful proponents in the Government's successful large-scale Solar Auction conducted in 2012-13. This rate will help community groups develop innovative community outcomes."
The community solar feed-in tariff will be established as a capacity release under the Electricity Feed-in (Large-scale Renewable Energy Generation) Act 2011. The capacity release will be capped at one megawatt, which is equivalent to around 500 typical roof-top installations.
"Ensuring community groups can access a modest but secure income stream will help them partner up with experienced developers to access project finance.
"Eighty-one per cent of Canberrans surveyed in 2013 wanted this government to show leadership when tackling climate change; this initiative will assist the community to take ownership of building a stronger, sustainable Canberra.
"I am hoping to open the first round of proposals ahead of the National Community Energy Congress planned for Canberra in June this year."
Today's announcement follows the release of the Solar Auction Review report yesterday and the introduction of new legislation to raise the renewable energy cap from 210 megawatts to 550 megawatts to provide for large-scale renewable energy investments that will support the achievement of the ACT's 90% renewable electricity target by 2020.
- Statement ends -
Section: Simon Corbell, MLA | Media Releases