The Greens back community renewable energy projects

The Greens will back community renewable
energy projects - Adam Bandt.

The Greens will announce that they will spend $265.2m on community-owned renewable energy projects, including allowing these to generate tax-free profits from the electricity created.

The Greens energy spokesman, Adam Bandt, will announce the four-year package on Saturday in North Fitzroy at an apartment block seeking to establish a community-owned renewable project.

The Greens plan to create a $150m community energy start-up fund for 50 projects. The money will go towards planning, development, part of the capital costs and two years of operational funding.

They will spend $102.9m on community groups, schools and other local institutions to invest in solar panels and storage, including some capital costs.

Read The Guardian story - “Greens to spend $265m on community-owned renewable energy projects.”