Homeowners and small businesses will be promised low-interest loans of up to $100,000 and “record low” power bills to stop using gas, in what is estimated to be a multibillion-dollar investment – pledged by the Greens – into the electrification of homes.
Natural gas, a fossil fuel that mainly consists of methane, is Australia’s fastest-growing source of greenhouse pollution, and is almost 100 times more polluting than carbon dioxide. The Greens’ pledge also involves a plan to retool the retail division of Snowy Hydro to create “Power Australia”, a 100 per cent publicly owned non-profit electricity retail corporation that will offer Australian businesses at-cost electricity.
Subsidies of up to $10,000 per battery for small businesses and $5000 for household batteries will be available, along with additional low-interest loans of up to $50,000 for businesses and $10,000 for households. The office did not assess the proposal’s impact on the Australian gas, solar or electricity industries as it said it was difficult to determine the net impact on industry profits, employment, or the Commonwealth budget. There was also some uncertainty over how the loan repayments would affect the bottom line.
Well done. A party delivering a actual commitment. Thats what voters want to here not waffle.