Western Australia will be the energy transition winner

Published in The West Australian: 11 July 2011

Sunday's announcement of the carbon price package fires the starting gun on the long-overdue clean energy transition.
Western Australia is uniquely placed to benefit from the enormous shift in investment as polluting industries are taxed for the first time and the clean technology sector finally gets the support it deserves.
While all eyes have been on the dollar cost of venting a tonne of C02 into the atmosphere, the Greens have negotiated a broad range of additional measures intended to supercharge the zero emissions economy. The Australian Renewable Energy Agency (ARENA) will be responsible for disbursing more than $3 billion in renewable energy project funding. In addition, a new Clean Energy Finance Corporation will have a $2 billion annual budget funded from carbon tax revenues, a massive injection that is expected to leverage additional billions in private investment.