Labor sets out details of $1 billion green retrofit scheme
Labor to tighten EEO, NGERS screws on power stations
How ALP's business 'reward' scheme would work
Vehicle CO2 emission standards on the horizon
Solar industry slams Labor for stripping funds from flagship scheme
Labor sets out details of $1 billion green retrofit scheme
A $1 billion scheme giving tax breaks for green retrofits of commercial buildings would enable building owners to claim deductions totalling 150% of the cost of eligible assets or capital works over their effective life, says a Labor Party fact sheet.
Announced by the federal ALP on the weekend, the scheme would enable businesses to claim a "bonus" tax deduction of 50% for energy efficiency assets or capital works, on top of standard capital allowance deductions.
Eligible businesses would need to be given a 'before' rating under the NABERS scheme by an accredited assessor of two stars or lower and be given an 'after' rating of at least four stars.
They would be eligible for the bonus tax deduction in the year in which they obtain a two star or higher rating.
The scheme would begin on July 1, 2011 but buildings wanting to undertake work ahead of that time could seek funding through a $30 million extension of the Green Building Fund, which has administered retrofit grants totalling $70 million.
It is expected to cost $180 million over the forward estimates period to 2013-14 and about $1 billion to 2018-19, including the cost of the Green Building Fund extension.
The fact sheet says funding will be provided through the Renewable Energy Future Fund that was announced in the May Budget.
The fact sheet says the tax breaks for green buildings initiative will be available for retrofits of existing commercial buildings, including retrofits of office buildings, hotels and shopping centres that are currently within the ambit of NABERS.
The scope of what can constitute eligible capital expenditure is yet to be determined, but the fact sheet includes an example referring to the installation of efficient lighting, a cogeneration system and efficient air-conditioners.
The tax break would be available through an application process that would give priority to the projects that can deliver "the best environmental outcomes", the fact sheet says.
"We envisage that rounds of applications would be conducted to assess the best projects against statutory criteria and within a global budget for eligible expenditure," it says.
Currently, commercial buildings account for approximately 10% of Australia's greenhouse gas emissions.
Shadow Climate Change Minister Greg Hunt said the Coalition's Emissions Reduction Fund, which offers incentives for lowest-cost carbon abatement, would provide "incentives to owners of commercial buildings to reduce their emissions".
Labor to tighten EEO, NGERS screws on power stations
A second-term Labor Government would abolish the exemption from the Energy Efficiency Opportunities (EEO) program that currently applies to the power sector.
"For the first time, we will place additional obligations on all existing coal-fired power stations to find opportunities to reduce their emissions, through an extension of the EEO program," says a Labor Party fact sheet expanding on announcements made on Friday by Prime Minister Julia Gillard.
The EEO scheme requires large users of energy to assess their energy use and identify efficiency measures that have a payback of three years or less.
And while ending the special-case exemption that currently apply to coal-fired power stations under the EEO program, Labor would make a special case of the power sector under NGERS.
A re-elected Gillard Government would publish data on emissions from each of Australia's power stations under its National Greenhouse and Energy Reporting (NGER) scheme.
For other sectors, facility-specific data is not publicly available.
"Publicly available emission and energy production data at facility-level will better inform markets and the community about the performance of electricity generators as Australia moves to a low carbon economy," the fact sheet says.
How ALP's business 'reward' scheme would work
Labor's platform also explains in slightly more detail how its proposal to 'reward' business for early action would work.
Prime Minister Julia Gillard announced on Friday that emissions baselines for industry assistance would not be increased, but would remain as they were under the proposed CPRS.
A fact sheet says the commitment "implies that allocative baselines under a future emissions trading scheme would continue to be based on historical emissions data from the 2006-07 and 2007-08 years".
"This commitment provides certainty to businesses and implies that any emissions reductions they undertake between now and a future market to limit pollution will not reduce the permit allocations they will receive.
"Large emitters will be able to identify significant abatement opportunities and act on these opportunities prior to a future market for pollution.
"Acting on these opportunities will put these emitters at an advantage to their competitors who do not take action."
Vehicle CO2 emission standards on the horizon
A re-elected Gillard Government would introduce mandatory CO2 emissions standards for new light vehicles equating to a 14% cut on 2008 levels by 2015 and a 30% cut by 2024.
According to the Federal Chamber of Automotive Industries, the national average for carbon dioxide emissions from new light vehicles in Australia in 2008 was 222g/km.
Labor on the weekend committed to a 2015 average mandatory emission standard of 190g/km and 155 g/km by 2024.
"These targets will be the starting point for further consultation," a Labor Party fact sheet says.
Labor would also commission the Australian Energy Market Commission to identify potential barriers to the uptake of electric vehicles and possible solutions.
The AEMC would be asked to look at metering requirements, technical standards, the adequacy of existing network infrastructure and the potential effects of electricity tariffs.
Solar industry slams Labor for stripping funds from flagship scheme
A Labor plan to give owners of old cars $2,000 rebates for upgrading to a low-emissions new cars has been slammed by the solar industry because funding sources would include the 'solar flagships' scheme.
The $394 million in funding for the four-year cash-for-clunkers scheme, which would provide a rebate to owners of pre-1995 cars who trade up to more efficient models, would be more than offset by stripping $220 million from the Solar Flagships scheme, $150 million from the Renewable Energy Bonus scheme and $150 million from the Carbon Capture and Storage Flagship scheme.
"Why would you rip the heart out of the promising utility-scale solar program to simply put more cars on Australia's already crowded roads?" Australian Solar Energy Society CEO John Grimes said in a statement.
"By taking money away from solar you are taking money away from a 100% emission free electricity generation, and putting it into reducing emissions from cars," he said. "It makes no environmental policy sense," he said.
Shadow Industry Minister Sophie Mirabella said the cash for clunkers program "seems to be another hastily-devised initiative".
The scheme could deliver "a serious blow" to workers in Australia's car industry by favouring foreign vehicles, she said.
