Wind power more likely than solar to attract investment

A report on renewable energy investment has found wind power remains the most popular option.

BCI Economics says $5.2 billion was spent on renewable energy technology in 2010-11, with the bulk of the investment in NSW, Victoria and South Australia.

Report author Franciska Mey says the number of solar PV panels on home roofs grew rapidly, but no large-scale commercial projects have got off the ground.

Ms Mey says unlike wind power projects, which offer a strong return on investment, big solar projects are struggling to find investors.

“The incentives and the funding is still not that secure, and you also have the problem of securing a purchasing agreement, which means you can find somebody you can actually sell the power to.”

Both the Federal Government and the Opposition have agreed on renewable energy targets (RET), so all power generated in Australia by 2020 must come from renewable sources… Read more

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