Emissions Trading Scheme - will it affect you?
The Federal Government is planning to introduce carbon emissions trading scheme in 2010, and Wayne Swan says “acting on climate change now will save Australia significant financial outlay in the future”.
Household are expected to payout about $7 per week more for gas and electricity.
Treasury modeling says the ETS would mean households pay about $5 per week more for power while gas would add $2 per week.
Did you know you can save those rising costs, which are nearly $400 more each year, simply by installing a solar hot water heater?
If you install a system now you won’t pay anything more than you are currently paying for hot water heating. Furthermore you don’t have to be concerned about the $5 per week price increase due to ETS, or the 5% to 8% annual increase which bites you every year from now forever.
Treasurer Wayne Swan conceded the cost would hit lower income families harder and said the Government would work to help all Australians in managing the cost. “The Government is of course committed to helping households adjust to the scheme by compensating them for the impact,” Mr Swan said.
No firm figure of assistance has yet to be given.
The scheme would mean carbon as a unit was given a value in the hope of reducing emissions. Mr Swan says Australia could reasonably expect to cut emissions by at least 60% by 2050 with little impact on the economy. The expected price is around $23 per tonne of C02
The Treasurer also said the modeling, which was completed in response to a report by Australia’s peak climate adviser Professor Ross Garnaut, showed a higher cost if Australia failed to act now.
Mr Swan said the alternative energy sector would grow by more than 3,000% if the scheme was introduced.
“Low emissions technologies and production processes will become more competitive and low emission goods will become more attractive to consumers,” he said.
The good news is that installing a solar hot water system frees you from most of the impact of a emissions trading scheme, and saves you over $10,000 over the life of the system.
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Tags: ETS
November 8th, 2008 at 2:11 pm
[...] Emissions Trading Scheme - will it affect you? [...]