GBCA welcomes renewable energy fund

The nation’s leading green building organisation welcomes the Australian Government’s new $652 billion Renewable Energy Future Fund.

The Fund will promote commercialisation of renewable technologies as part of the 2010-11 Federal Budget.

“With the Carbon Pollution Reduction Scheme on hold until at least 2013, other measures are vital to ensure Australia reduces its greenhouse gas emissions,” says Chief Executive of the Green Building Council of Australia (GBCA), Romilly Madew.

The fund will support renewable energy projects, as well as the development and deployment of low-emissions technologies.

The fund will also be used to drive Australia's take-up of energy efficiency and will support households and businesses reduce their energy consumption.

“It’s time Australia capitalised on potential of renewable energy sources such as geo-thermal, wind, wave and solar power.

“We welcome the Australian Government’s new measures, which will help to address the 23 per cent contribution that residential and commercial buildings make to the nation’s greenhouse gas emissions profile,” Ms Madew says.