Enigin Update - Australian Carbon Tax Bill Boost for Energy Efficiency
THE Australian parliament have passed a controversial carbon pricing plan which will start in July 2012 and will cost the biggest greenhouse gas emitters $23 per ton of carbon emitted.
The carbon pricing scheme, which is expected to get the Australian Senate’s approval in November, has been sensitive politically for prime minister Julia Gillard and the Australian government.
The carbon pricing bill is deemed a huge step for Australia, a country which is the world's largest exporter of coal and also the number one nation in greenhouse gas emissions per capita.
Estimates by the Australian Government reckon that the carbon price plan is going to cost households an additional $10 a week, but will return more than half of the revenue raised through direct payments and tax credits that will be more than enough to offset the rising energy prices.
With the burning of fossil fuels becoming more expensive through the carbon pricing it will encourage energy efficiency, energy efficient technologies and renewables. Further government estimates claim the bill will reduce carbon emissions by 159 million tons and hence cutting at least 5 percent from the country's emissions by 2020.
By the Australian government directly investing millions of dollars in renewable energy and energy efficiency research and development, the estimated emission cuts could could be even greater as the clean tech sector develops further, which will please environmentalists, industrialists and labour unions.
This bill is good news for Australian Enigin Distributors as industry, commerce and the public sector will be looking to reduce their emissions through improving energy efficiency - with the resulting higher demand for Enigin plc's cutting edge energy efficiency systems and solutions.
Picture of Old & New Parliament House, Canberra by Brenden Ashton reproduced under CCL.
