Renewable energy subsidies to top $2.8b a year up to 2030

Renewable energy sources such as wind and solar will receive subsidies of up to $2.8 billion a year up to 2030 to ensure Australia reaches its Renewable Energy Target, according to new research.

The research, commissioned by the Minerals Council of Australia, found solar photovoltaic technologies accounted for about half of the annual subsidies, or about $1.5 billion. Most of these came in the form of generous feed-in tariffs offered by state governments for households and businesses to install solar PV.