Expand the Clean Energy Finance Corporation (CEFC) and provide concessional loans to small businesses for battery storage (PER611)

Summary of proposal

This proposal would provide an additional $10 billion evenly over five years from 1 July 2021 for the Clean Energy Finance Corporation (CEFC). As part of this expansion, the CEFC would be directed to provide concessional loans to small businesses until 2023-24, to assist with the installation of battery storage. These loans would be up to $15,000 per business in 2021-22, tapering down to $9,300 in 2023-24, and would be repayable over a 10-year period.

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Expand the Clean Energy Finance Corporation (CEFC) and provide concessional loans to small businesses for battery storage (PER611)

Summary of proposal

This proposal would provide an additional $10 billion evenly over five years from 1 July 2021 for the Clean Energy Finance Corporation (CEFC). As part of this expansion, the CEFC would be directed to provide concessional loans to small businesses until 2023-24, to assist with the installation of battery storage. These loans would be up to $15,000 per business in 2021-22, tapering down to $9,300 in 2023-24, and would be repayable over a 10-year period.

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Charge royalties for oil and gas and reform the petroleum resource rent tax (PER609)

Summary of proposal

This proposal would replace the existing petroleum resource rent tax (PRRT) method of uplifting
excess expenditure to future years, with the following two treatments.

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End public subsidies for the fossil fuel industry (PER608)

Summary of proposal

This proposal has four components.

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End public subsidies for the fossil fuel industry (PER608)

Summary of proposal

This proposal has four components.

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Protect coal workers and communities through the transition to a zero-carbon future (PER606)

Summary of proposal

The proposal would provide $1,000 million over ten years from 2019-20 to 2028-29 to support workers and communities in coal-dependent areas as power stations are closed. The proposed schedule for power station closures is at Attachment A. Funding would be allocated in proportion to the generation capacity of power stations scheduled for closure.

Additional departmental funding would be provided to administer this proposal.

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Protect coal workers and communities through the transition to a zero-carbon future (PER606)

Summary of proposal

The proposal would provide $1,000 million over ten years from 2019-20 to 2028-29 to support workers and communities in coal-dependent areas as power stations are closed. The proposed schedule for power station closures is at Attachment A. Funding would be allocated in proportion to the generation capacity of power stations scheduled for closure.

Additional departmental funding would be provided to administer this proposal.

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Phase out thermal coal exports by 2030 (PER605)

Summary of proposal

This proposal would introduce permits on exporting thermal coal, with a yearly cap of total permits
available for purchase. Coal exporters would pay for permits to export thermal coal each year. The
yearly export cap amount and the amount charged for the thermal coal export permits are as follows.

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Phase out thermal coal exports by 2030 (PER605)

Summary of proposal

This proposal would introduce permits on exporting thermal coal, with a yearly cap of total permits
available for purchase. Coal exporters would pay for permits to export thermal coal each year. The
yearly export cap amount and the amount charged for the thermal coal export permits are as follows.

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Phase out thermal coal exports by 2030 (PER605)

Summary of proposal

This proposal would introduce permits on exporting thermal coal, with a yearly cap of total permits
available for purchase. Coal exporters would pay for permits to export thermal coal each year. The
yearly export cap amount and the amount charged for the thermal coal export permits are as follows.

Read more