CANBERRA – Labor has pledged to give $1 billion for the installation of solar panels at thousands of schools. The decision has been taken to create “virtual power plants” to reduce the electricity bills for various businesses and households. To supply the amount, Clean Energy Finance Corporation, a government fund will be used to give concessional loans to energy companies in order to set solar panels at both public and private schools. This plan will also benefit the schools in reducing their electricity bills.
Initially, the scheme will start with two or three trial projects in various regions and it would increase to the capacity of one-fifth of the Liddell coal-fired power station in NSW. This will benefit 4,000 schools in getting 364 MG of VPP capacity and would reduce the pollution on a large scale. Although the date for the announcement disbursal of the fund has not been made, the work will begin during the time period when schools remain closed. Solar panels are getting popular all over the world as it is possible to save electricity and hence reduce electricity bills to a great extent. Solar installation Sunnyvale CA is one such entity which is known for installing solar panels and has received positive reviews for its work.
CEFC has made a significant commitment which would generate commercial return from loans. Government debt will be used to give $10 billion to the CEFC to expand its investment. Also, it noted that the net debt will not change as it will be offset by the solar school investments. Labor also said that all the installations in the schools will be done under the ambit of certified installers. All this process will be conducted in compliance with the National Construction Code as well as the Clean Energy Council installation guide.