ENP Newswire - 05 September 2014
Release date- 04092014 - Queanbeyan, Australia - Scrapping the Renewal Energy Target and abolishing the Clean Energy Finance Corporation and Australian Renewable Energy Agency is a short sighted, irresponsible policy decimation that ignores the climate-change concerns of over 75 per cent of the Australian population claims Dyesol, an Australian solar success story.
Speaking at the Eden-Monaro Save Solar Forum this evening, Managing Director of Dyesol, Mr Richard Caldwell says the Australian renewable energy sector is not yet at the stage where business can operate entirely free of Government financial assistance; particularly on large scale developments which will be significantly more cost efficient than small scale solar projects. In addition, the sector requires stability, a consistent energy policy and bipartisan support to ensure international renewables investment continues in Australia.
'Already there is a capital markets failure in Australia as our ability to access risk capital is extremely limited relative to our global competitors,' explains Mr Caldwell. 'In addition to withdrawing critical funding, the scrapping of the RET will determine whether investment in the Australian renewable sector is considered an opportunity or a risk. For companies like Dyesol in the process of commercialising renewable technology, the Government's stance does not send a positive message to investors here or overseas and puts in jeopardy years of inventive enterprise'.
Dyesol has invested over $120 million in developing its ground-breaking solid state DSC technology and has received funding from governments and companies all over the world including the US, UK, Korea, Saudi Arabia and Turkey. 'These countries, although driven by different political ideology all recognise that the renewable industry will not only address our environmental challenges but will create multi-billion-dollar industries, providing significant wealth and job creation, while Australia engages in petty and irresponsible politics,' states Mr Caldwell.
'We have already started to see international leaders pull out of their multi-million dollar R&D projects in Australia due to the uncertainty and lack of support for renewable energy by this Government who will single-handedly kill off an entire industry sector that has so much already invested in it, and has so much importance for our future.
'The Government must show leadership and maintain the existing RET and in doing so, support the renewable energy sector which has the potential to secure our energy future, reduce emissions and make electricity more affordable for everyone. It is also a once in a life-time opportunity for Australia to secure its advanced manufacturing future, create new green collar jobs, and deliver the next wave of national prosperity,' Mr Caldwell adds.
The Eden-Monaro Save Solar Forum will be held this evening from 6-8pm at the Queanbeyan Kangaroos Leagues Club, Cnr Stuart St & Richard Avenue, Queanbeyan NSW 2620. Other speakers include: John Grimes, Chief Executive of the Australian Solar Council; Mark Butler, Opposition Environment Minister; Christine Milne, Greens leader and Simon Corbell, ACT Minister for the Environment.
About Dyesol Limited
Dyesol is a renewable energy supplier and leader in Solid State Dye Solar Cell (ssDSC) technology - 3rd Generation photovoltaic technology that can be applied to glass, metal, polymers or cement. Dyesol manufactures and supplies high performance materials and is focused on the successful commercialisation of ssDSC photovoltaics. It is a publicly listed company: Australian Securities Exchange ASX (DYE), German Open Market (D5I), and the USA's OTCQX market (DYSOY). Learn more at www.dyesol.com and subscribe to our mailing list in English and German.
About Dye Solar Cell Technology
Solid State Dye Solar Cell (ssDSC) technology is a photovoltaic technology based on applying low cost materials in a series of ultrathin layers encapsulated by protective sealants. Dyesol's technology has lower embodied energy in manufacture, produces stable electrical current, and has strong competitive advantage in low light conditions relative to 1st and 2nd Generation PV technologies. This technology can be directly integrated into the building envelope to achieve highly competitive building integrated photovoltaics (BIPV).
The key material layers include a hybrid organic-inorganic halide-based perovskite light absorber, a nano-porous metal oxide of titanium oxide, and an organic semiconductor. Light striking the absorber promotes an electron into the excited state, followed by a rapid electron transfer and collection by the titania layer. Meanwhile the remaining positive charge is transferred to the organic semiconductor, thereby generating an electrical current.
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