Federal Energy Minister Josh Frydenberg has backed the development of solar thermal technology in Australia despite warnings it might not be commercially viable until 2040.
The Turnbull government has promised to fast track the tender process for the country’s first solar thermal project in Port Augusta and commit $110 million in concessional loans after a deal was struck with Independent SA Senator Nick Xenophon in exchange for supporting the Coalition’s tax cuts in the Senate.
But the Australian Renewable Energy Agency has previously warned solar thermal projects were more expensive than other forms of renewable energy and may not be ready for wide-spread use for another 20 years.
Solar thermal, or concentrated solar power, involves using large mirrors or lenses to concentrate a large area of sunlight into a smaller area to generate solar power.
Read the full article by Mark Ludlow at the Australian Financial Review.