Christine Milne announced the Sun Fund, the Greens' 10 year, $3 billion structured investment program for renewable energy and energy efficiency technologies, at the Solar07 Conference in Alice Springs.

The Sun Fund will transfer the $300 million in current annual Federal Government subsidies for fossil fuels across to renewable energy. This will provide a significant, ongoing investment to underpin research, development, commercialisation and capacity building across the broad range of renewable energy and energy efficiency technologies.

The Sun Fund will:
• address the stop-start nature of current funding, which undermines industry confidence, by providing long-term, ongoing funding for the sector;
• provide a logical, guided funding path from innovation through to installation;
• be governed by an independent body with relevant skills and expertise; and
• focus on developing a highly skilled workforce and a broad body of intellectual property, both of which can be exported across the region.

You can read the press release here and download the full policy here.

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Sun Fund.pdf	09/03/09 12:32 am	40.23 KB