A bit about the Clean Energy Finance Corporation

So the clever little thinkers of the ALP decided to set up a time bomb inside the workings of the Public Service but run under the auspices of an “outside” enterprise. Its stated purpose is to deliver finance to clean energy technologies, it’s reality will be a waste of up to 10 billion dollars. Looking at the limitations of its intent (no nuclear or carbon capture technology – both Coalition stated goals) it is easy to see that this will be aimed at kite flying, wind turbine, wave technology, etc enterprises which will inevitably go from boom to bust in a very quick time. Remember Tim Flannery’s geothermal exercise, Israel’s attempt to electrify cars,  American Solar Electric companies.

One report says that out of energy conscious 750 startup companies only 150 are left. This is not to say that these figures are outside the range of normal startup companies, lots fall over in their first year and even more do not make it past 10 years, the difference is that private companies generally put their own funds on the line, or the banks that fund them have guarantees in place to recoup the funds if a fallover occurs.

The problem with a structure such as the CEFC is that it sources its funds from us, the taxpayers, and looking through its charter, there is no fallback position to regather “invested” funds.

Another example of dereliction of duty from the ALP, and forcing the result onto taxpayers.

“The CEFC will invest in organisations and projects using 'clean energy technologies' as well as manufacturing businesses that focus on producing the inputs required. The Clean Energy Finance Corporation Act 2012 excludes investment in technology for carbon capture and storage, nuclear technology or nuclear power. The CEFC will make its investment decisions independently, based on rigorous commercial assessments.”