Over half the money raised from the carbon price is being used to assist households.
Investing in renewable energy and clean technologies
Q. I received a flyer explaining how the Government will provide households with $10.10 to help electricity bills. Will my household receive this payment & how will it be paid?
The figure of $10.10 refers to the average amount of assistance households receive through tax cuts and increases in family payments, pensions and benefits. This assistance is part of the Government’s Household Assistance Package, and eligible Australian households have already received it. The payment varies from household to household. For an estimate of your assistance, visit the Household assistance estimator.
Q. What can I do if I think a shop or business has raised their prices too much?
You should contact the Australian Competition and Consumer Commission (ACCC) if you think a business is attributing significant price rises to the carbon price. The ACCC will investigate businesses’ carbon claims and has the power to issue infringement notices or take legal action against businesses suspected of breaching the law.
Record Support for Renewables
Together with the carbon price and Renewable Energy Target, the Clean Energy Finance Corporation and the Australian Renewable Energy Agency will drive the biggest expansion in the clean energy sector in Australia’s history, building a critical mass of renewable energy, energy efficiency and low-emissions generation projects.
Over $13 billion will be invested in clean energy projects
The carbon price will provide a very significant incentive for the development of clean technologies, especially renewable energy. The Government will complement this market signal with targeted investments to bring forward new technologies at as low a cost as possible.
A Clean Energy Finance Corporation
A $10 billion new commercially oriented Clean Energy Finance Corporation (CEFC) will be established to drive innovation through commercial investments in clean energy through loans, loan guarantees and equity investments.
The CEFC will leverage private sector financing for renewable energy and clean technology projects, investments critical to the transformation of the Australian economy. It will identify projects and remove barriers that would otherwise prevent the financing of large scale renewable energy projects.
Investments will focus on renewable energy, energy efficiency and low emissions technologies and the transformation of existing manufacturing businesses to re-focus on meeting demand for inputs for these sectors.
The CEFC will be run by an independent Board made up of experts in banking, investment management and clean energy and low emissions technologies.
The Australian Renewable Energy Agency
A new, independent statutory body, the Australian Renewable Energy Agency (ARENA), will be created to coordinate around $3.2 billion in existing grant funding programs supporting research, development and demonstration of new renewable energy technologies.
The establishment of ARENA as an independent statutory body presents a unique opportunity to adopt a holistic approach to financing the research, development, commercialisation and demonstration of renewable energy technologies.