How australia funding the reduction of gas emissions program in terms of renewable energy?
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Australia funds the reduction of gas emissions through various programs, such as the Emissions Reduction Fund (ERF). The ERF, administered by the Clean Energy Regulator, aims to help achieve Australia's greenhouse gas emissions reduction targets by providing substantial funding, including an initial allocation of $2.55 billion with potential for further budget consideration. Additionally, subsidies funded by electricity consumers play a crucial role in supporting the uptake of renewable energy sources like household photovoltaic (PV) systems. These subsidies have been instrumental in reducing emissions, with household PV alone contributing to a significant reduction of 3.7 million t CO2e in 2014 and an expected increase to 6.9 million t CO2e by 2020. Overall, Australia's approach involves a combination of government funding initiatives and consumer-funded subsidies to drive the transition towards renewable energy and achieve emission reduction targets.
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1 Citations | Australia funds the reduction of gas emissions through the Renewable Energy (Electricity) Act 2000 (CTH), utilizing a system of Renewable Energy Credits (RECs) as a form of taxation and subsidization. |
| Australia funds gas emissions reduction through the Emissions Reduction Fund, allocating $2.55 billion. The program aims to achieve emission reduction targets by 2020 and 2030, administered by the Clean Energy Regulator. | |
21 Dec 2016 | Australia funds the reduction of gas emissions through subsidies paid by electricity consumers to support household photovoltaic uptake, with costs expected to decrease over time. |
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