Part 5/7:
Expansion of Subsidy Programs and Political Ties
Adding to the concern is Bowen’s recent announcement of an expansion to the Capacity Investment Scheme. This scheme promises to underwrite nearly every renewable project in the pipeline, significantly reducing the financial risks for developers. Critically, the process through which funds are allocated appears opaque, with decisions potentially influenced by political favoritism rather than merit or market considerations.
Minister Bowen’s frequent parliamentary confrontations and dismissive responses to questions about the net zero timeline reflect a lack of confidence and clarity in Australia’s renewable policy. His inability—or unwillingness—to provide concrete answers suggests deep uncertainties and geopolitical risks.