Climate Change Budget
May 14, 2008
The federal Government has committed $2.3 billion over five years for climate change related projects. Find out what the money will be used for.
For households in Australia:
Green loans
Up to 200,000 loans will be available over five years to improve the energy and water efficiency of homes. The low interest loans of up to $10,000 will be available for the installation of solar, water and energy efficient products, to be paid back at the maximum rate of 2 per cent of annual gross income, with a minimum of $300 per year.
Solar hot water system rebates
Provides eligible households with rebates of up to $1,000 for the installation of solar or heat-pump hot water systems.
Solar homes and communities plan (previously called the photovoltaic rebate program)
Maintains the maximum rebate available under the program at $8,000, but has introduced a means test, with households with an annual taxable income of less than $100,000 eligible for the rebates.
Establishment of a low emission plan for renters
Delivers rebates of up to $500 to landlords to increase the use of insulation in existing rental homes.
Establishment of a one stop green shop
Provides $3.0 million over three years to develop a government web portal that will link schools, businesses and families to all Australian Government, state, territory, and local government household energy and water efficiency programs.
Energy efficiency of electricial appliances
Contributes $14 million over four years to improve the energy efficiency of electrical appliances used by households. Will also expands the current six-star Energy Rating Label to a 10-star rating system and introduce Greenhouse and Energy Minimum Standards.
Inefficient hot water system phase out
Provides $7.9 million over four years to support the gradual phase-out of inefficient hot water systems used in Australian homes.
Other key budget items include:
Emissions trading scheme
Provides over $37 million, in addition to the $31.6 million previously allocated to develop and operate a national greenhouse gas emissions trading scheme.
Renewable Energy Fund
Provides $500 million over seven years to accelerate the development and deployment of renewable energy technologies.
National Clean Coal Fund
Invests $500 million over seven years to establish and support a national strategy aimed at bringing forward the commercial availability of clean coal technologies.
Green Car innovation Fund
$500 million over a five year period to encourage the Australian automotive industry to develop and manufacture low emissions cars.
Solar Cities
Expands the Solar Cities program to build new Solar Cities in Perth and Coburg! right here in Moreland.
For more information and the full breakdown of the climate change budget visit: http://www.greenhouse.gov.au/
