ARENA One Step Closer to Legislation

The Australian Renewable Energy Agency is one step to legislation as the lower house passes the body and will soon be reviewed in the senate which currently is the comfort zone of the Clean Energy Future Package. Like the carbon tax the legislation of the ARENA is almost certain as soon as it gets through the lower house and only formality is what’s left to do.

If the ARENA passes through the senate it will be established simultaneously with the implementation of the carbon on July 1, 2012 and will have a substantial seed of $3.2 billion for the development of renewable energy technologies in the country. Nearly half of the body’s budget has already been committed for the further research and development needed in existing technologies while the rest of the body’s seed is yet to be planned for.

The ARENA’s billion dollar support for renewable energy will bring milestones to RE technologies putting Australia in the renewable energy map and is expected to bring genuine grid parity on a national scale. Apart from providing generous financial support the ARENA will also act as a unity point to several clean energy bodies such as the Australian Centre for Renewable Energy and the Australia Solar institute bringing them under the same roof for better guidance and collaborative opportunities.

The legislation of the ARENA marks the second phase of the Clean Energy Future Plan and soon the $10 billion Clean Energy Finance Corporation will follow. Both bodies will act as catalyst for carbon mitigation and behavioral change towards environmental preservation in almost every aspect of the community tagging along sustainability and a low carbon economy.

Businesses, households and lessees will highly benefit from the bodies opening doors for better energy efficient opportunities shielding them from the rising energy bills and any indirect effects of carbon tax. The boosted renewable energy sector will also pave way to a new breed of work forces, green power jobs is likely to increase through the years becoming one of the stable sector in the country as more solar power and other clean energy investments are made.