Australia’s solar energy industry has welcomed the release of the Gillard Government plan to put a price on carbon. Australian Solar Energy Society (AuSES) acknowledged “Big Solar is a big winner” in the Clean Energy Future announcement.

AuSES Chief Executive John Grimes said “We will see solar on steroids.”

“We are finally penalising pollution and rewarding clean energy. That will deliver substantial investment in solar power and position Australia as a solar nation.”

According to AuSES, the $10 billion Clean Energy Finance Corporation (CEFC) – half of which is quarantined for renewable energy - will provide the financial settings that Big Solar projects need to get off the ground.

“AuSES has consistently argued for the establishment of an independent green investment bank, and we are very pleased that this is coming to fruition.”

While the details are still being worked out, it is likely Big Solar companies will be able to access loan guarantees and equity investments. These initiatives have supercharged Big Solar in the United States and the same thing is expected in Australia.

“Taxpayers will continue to benefit from the Clean Energy Finance Corporation through the reinvestment of capital earned through this funding,” Mr Grimes said.