Growth in renewable energy investments is now greater than any other energy investment - except for Australia - according to the Western Australian Sustainable Energy Association Inc. (WA SEA).

According to the UN, the year 2008 was the first year that investment in new power generation capacity from renewable energy technologies was more than investment in fossil-fuelled technologies.

The UN report $155 billion was invested in 2008 in clean energy companies and projects worldwide - not including large hydro.

The growth in investment in clean energy was largely due to record investments by China, Brazil and other emerging economies.

Total transaction value in the sustainable energy sector during 2008 - including corporate acquisitions, asset re-financings and private equity buy-outs - was $223 billion.

‘All we need now is legislative support on a renewable energy target to provide certainty to investors, and ensure the rapid growth of energy sources for the 21st Century,' says Dr Ray Wills, WA SEA Chief Executive.

Dr Wills points out ‘Other nations are moving aggressively to develop their lesser renewable energy resources while Australia is lagging behind with the world's best resources.'

Politicians that are focused on promoting inaction on Australia's greenhouse gas emissions - and simultaneously inaction on Australia's renewable energy resources - are often heard to say ‘What about China?'

Yes, China emits a lot of greenhouse gasses - but China is also vulnerable to climate change and global warming as it poses a significant threat to China. The Chinese Government takes seriously the advice its scientists are providing, are responding to that advice, and this is why China also plans to become the world's leader in renewable energy.

China is investing massive amounts of money into wind, solar and other greenhouse friendly forms of electricity to power development into the future. China had originally set a target for renewable energy consumption of 15 percent of the market by 2020 has now revised its own targe up to 20%.

‘It is time for the Australian parliament to finish work on legislation and to stand back as this nation builds a new economy for Australia based on sustainable energy before the developing economies leave us behind,' says Dr Wills.

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Last month, Western Australian born and educated Dr. George W. Taylor, Executive Chairman of Ocean Power Technologies (NASDAQ:OPTT, AIM:OPT), received the 2009 Renewable Energy Navigator Award from the Foundation for Ocean Renewables.

The award was presented to Dr. Taylor at the 2nd Annual Global Marine Renewable Energy Conference recently held at the Carnegie Institute for Science in Washington, DC.

The honour sponsored by the Foundation for Ocean Renewables, a non-profit, non-government organization which promotes energy technologies using renewable ocean resources was given in recognition of Dr. Taylor's service in promoting the responsible commercialization of marine renewable energy.

Dr. Taylor is recognized as a pioneer and leader in the development and establishment of wave energy technology for his work over the past 25 years. He co-founded Ocean Power Technologies, Inc., and under his leadership OPT has become one of the world's major wave power companies. His earlier career included research, development and commercialization of liquid crystal displays, and piezoelectric and ferroelectric materials and devices.

Commenting on Dr Taylor's award, OPT (Australasia) Director Gilbert George said OPT had developed its technology and key alliances around the world, including Lockheed Martin in the US, Griffin Energy in Western Australia, and Leighton Contractors in other parts of Australia. West Australian based investment bank Azure Capital played a key early role in raising venture capital.

On top of this announcement, yesterday the World Wildlife Fund Australia (WWF) released a report jointly with another great Australian wave energy developer, Carnegie Corporation, on estimates that wave energy will create about 3,210 Australian jobs by 2020, increasing to 14,380 jobs by 2050.

Carnegie Corporation reports that near-shore wave energy can provide about four times Australia's current national power needs, and wave energy could be easily providing enough clean electricity to power 1.2 million households within a decade.

‘With 90% of Australians living close to the coast, harvesting wave energy provides an opportunity to deliver emissions free renewable energy to most Australians' says Dr Ray Wills, WA SEA Chief Executive.

‘Ramping up use of Australia's massive wave energy resources will create new opportunities for business and employment, diversify and grow Australia's industry base, and create a more robust environment for business and a more sustainable economy,' says Dr Wills.

‘All we need now is legislative support on a renewable energy target to provide certainty to investors, and ensure the rapid growth of energy sources for the 21st Century."

WA Sustainable Energy Association Inc. (WA SEA) Media Release - 19 June 2009

Not just waving - Western Australian receives US award for service to renewable energy.

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Calls by the Rudd Government to "use it or lose it" could also equally apply to Australia's renewable energy resources, according to the Western Australian Sustainable Energy Association Inc. (WA SEA).

‘Australia wastes energy every day, with enough renewable energy to power all of Australia going unused across Australia every day,' says Dr Ray Wills, WA SEA Chief Executive.

Australia's Minister for Resources and Energy, The Hon Martin Ferguson, has foreshadowed significant tightening of Australia's "use it or lose it" provisions for non-renewable resources and a slashing of the 15-year period allowed from resource discovery to extraction.

Minister Ferguson is quoted "We will no longer tolerate oil companies sitting on assets that are commercially capable of being developed here and now. We will not accept that our natural assets are stranded whilst oil and gas is developed elsewhere in the world."

‘Ironically and obviously, if we don't use our non-renewable resources, they are still there to use up later, and as non-renewable resources, at some point they will run out. On the other hand, every day we spend extracting non-renewable resources in place of the wealth of renewable sources, you really are wasting and losing energy and the opportunity renewable energy provides,' says WA SEA Chief Executive Dr Ray Wills.

Dr Wills points out ‘Other nations are moving aggressively to develop their lesser renewable energy resources.'

Politicians that are focused on promoting inaction on Australia's greenhouse gas emissions - and simultaneously inaction on Australia's renewable energy resources - are often heard to say ‘What about China?'

Yes, China emits a lot of greenhouse gasses - but China is also vulnerable to climate change and global warming, as it poses a significant threat to China. The Chinese Government takes seriously the advice its scientists are providing, are responding to that advice, and this is why China also plans to become the world's leader in renewable energy.

China is investing massive amounts of money into wind, solar and other greenhouse friendly forms of electricity to power development into the future. China has set a target for renewable energy consumption of 15 percent of the market by by 2020 (and is already on track to exceed this) and 40 percent by the year 2050.

Returning to Australia and the proposals by Minister Ferguson, under options before the Government, explorers with claims on gas fields would have to prove they had made every effort to commercialise them and had considered all possible markets. The question can be asked, what about all energy resources on their lease?

Perhaps a condition of lease on areas for energy resources should include an obligation to develop the renewable energy resource found in that place.

‘While we have seen undoubtedly strongly growing support from the Federal Government for renewable energy uptake in Australia, this is off of a very low base and we are still well behind the commitment to renewable energy seen in the rest of the world.'

‘As the nation with the world's best renewable energy resources, the Minister needs to take his own advice and have Australia become even more ambitious ramp-up in the use of renewable energy and ensure we are not wasting, and so losing, valuable renewable energy resources every day,' says Dr Wills.

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A decision today by the Rudd Government to prematurely end the $8,000 solar PV rebate under the Solar Homes and Communities Plan (SHCP) delivers more uncertainty for the renewable energy industry, according to the Western Australian Sustainable Energy Association Inc. (WA SEA).

‘As an industry chamber interested in sustainability, we accept that changes to the scheme were necessary to meet the Government's fiscal responsibilities,' says Dr Ray Wills, WA SEA Chief Executive.

‘We also agree the need for change is understandable given the strong uptake and with the price of panels falling on strengthening world production at the same time the Australian dollar is regaining value, an $8000 rebate for a one kilowatt installation is now too generous, hence reviewing the measure is sensible.'

‘But the Rudd Government has swapped to the proposed Solar Credits scheme under the Renewable Energy Target (RET) legislation - an uncertain measure that offers no guarantee of on-going support because it is yet to pass Parliament. If the Bill is not passed by Parliament, what will be the fate of the promised support?' asks Dr Wills.

‘The changes add a new element of uncertainty to the market at a time when industry growth could be helping Australia through the current economic turmoil.'

‘A simpler move in transition would have been to increase the size of the system eligible for the rebate to a 1.5 kilowatt system - this would have eased demand, increased the amount of solar being installed, increased price competition, and increased the return to Government on its investment.'

‘While we have seen undoubtedly strongly growing support from the Federal Government for renewable energy uptake in Australia, this is off of a very low base and we are still below the level of uptake of renewable energy in the rest of the OECD nations.'

For example, all of Scotland has a population of 5.2 million and total electricity capacity of around 11 GW, with 19% from renewable sources at the end of 2008, including 70 MW of installed solar. Australia with the best renewable energy resources in the world and a population of 22 million has a total electricity capacity around 50 GW with 4% use from renewable sources, and a total of 34 MW solar actually installed (23,000 systems) as at April 2009. For Australia to match sunny Scotland's per capita investment in solar, we would need to install 140 MW of solar capacity to be on a par.

‘Other nations are moving aggressively to develop their lesser renewable energy resources. As the nation with the world's best renewable energy resources, the Australian Government needs to become even more ambitious in the support for renewable energy generation.'

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A decision today by the Barnett Government to back-flip on its election commitment to implement a gross Feed-in-Tariff (FiT) in Western Australia has short-changed both householders and the renewable energy sector, according to the Western Australian Sustainable Energy Association Inc. (WA SEA).

The commitment to establish a gross Feed-in-Tariff for domestic generation of electricity from renewable sources, made in the lead up to the September 2008 State election, and then restated and outlined in the 2009 Western Australian Budget, has now been reversed two weeks later by an announcement by the Energy Minister, Peter Collier.

‘The Barnett Government has reneged on a promise that would have provided Western Australians with the best state-based incentive in Australia to support renewable energy generation for households,' says Dr Ray Wills, WA SEA Chief Executive.

‘The May 2009 Budget papers stated Government's "commitment to implement a feed-in tariff scheme for homeowners ... pay owners of renewable energy systems at above the market rate for the electricity they generate".'

‘Rather than taking a position of leadership, the Western Australian Government has decided to sheepishly follow the mediocre approach of other Australian governments - the net Feed-in-Tariff - dressing it up as a move for ‘national consistency'.'

‘Furthermore, the Government's decision to expend the funds retrospectively from 6 September 2008 until today is effectively throwing the $13.5 million commitment away. Spending the money in this way will not result in a single new installation, nor create any new enterprise or jobs, and so will be a wasted opportunity and a waste of taxpayers' money.'

‘In addition, this will also have a perverse outcome in that homeowners for the next 13 months may have an incentive to delay the installation of renewable energy on their homes.'

‘The whole announcement is disappointing on so many levels and reflects continuing poor consultation with industry by the Barnett Government on this and a number of other issues. Engagement with industry prior to a decision like this would have provided a better result for all - for Government, for business, and most importantly for the community.'

‘Today's policy roll-back also disappoints by reducing options for business, eliminating the possibility of a gross Feed-in-Tariff for small business and commercial premises, shrinking it instead to a simple net scheme as it has for domestic customers.'

‘Further, the delay of the introduction of the net FiT alternative model until 1st July 2010 adds a new element of uncertainty to the market at a time when industry growth could be helping Western Australia through the current economic turmoil.'

‘In the absence of detail of a revised scheme, all this announcement provides is a reduction in support for renewable energy in Western Australia,' says Dr Wills.

‘At a time when nations around the world are moving aggressively on developing renewable energy resources, the Western Australian Government has killed what had been its most significant promise to both homeowners and to the development of the renewable energy industry in the State with Australia's best renewable energy resources.'

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WA Sustainable Energy Association Inc. (WA SEA) Media update - 16 May 2009

We can still save daylight.

While Western Australians may have said no to daylight saving, the Western Australian budget on Thursday has already provided the best way to save daylight, according to Australia's largest state-based green business body.

The WA Sustainable Energy Association Inc. (WA SEA) reports measures outlined in the Western Australian budget establishes a gross feed in tariff for domestic generation of energy from renewable sources including sunshine.

‘The feed in tariff announced by Western Australia Treasurer, Troy Buswell, is by far the best state-based incentive in Australia to support renewable energy generation for households,' says Dr Ray Wills, WA SEA Chief Executive.

‘Renewable energy produced from sunshine not only saves daylight, it turns it into money, improves WA's energy security, and reduces greenhouse gas emissions,' says Dr Wills.

Further details of the announcement are detailed in an earlier media release follows.

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The Gross Feed in Tariff (FiT) for domestic customers listed as a measure in today's budget will mean that householders taking full advantage of the incentive need never pay an electricity bill again, according to the WA Sustainable Energy Association Inc. (WA SEA), Australia's largest state-based sustainable energy business chamber.

‘The 2009 budget presented by Western Australia Treasurer, Troy Buswell, unveiled Australia's most generous state-based incentive to support renewable energy generation for households,' says Dr Ray Wills, WA SEA Chief Executive.

‘The gross feed in tariff of 60 cents per kilowatt hour, which WA SEA understands is available only if homes also take on 100% green power supply, will allow home owners in WA to completely eliminate greenhouse gas emissions previously associated with electricity use in those homes.'

‘Householders installing full capacity of up to 10 kilowatt on their rooftops will be able to take advantage of our plentiful - and free - sunshine or wind, and may never have an electricity bill again. Coupled with the Federal Government Solar Credits scheme (which applies to any kind of renewable energy), smaller systems can be paid off in a very short time, with payback of larger systems in less than nine years,' says Dr Wills.

‘And diversifying electricity generation on roof tops of WA homes will bolster distributed generation through the south-west, and will bring both energy security and reduce our greenhouse gas emissions.'

‘The announcement also opens the door for businesses with the Barnett Government's commitment to explore an appropriate renewable energy buyback scheme for small to medium enterprises.'

‘WA SEA looks forward to further discussion with The Western Australian Government that can see our State ramp up use of Western Australia's massive renewable energy resource - renewable energy that will continue to shine on us, to wash up on our shores, to heat the rocks beneath our communities, and to blow past us!' says Dr Wills.

WA Sustainable Energy Association Inc. (WA SEA) Media Release - 13 May 2009

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