Frost & Sullivan: Australia Commits to Reducing Carbon Emission with Carbon Tax Implementation

Frost & Sullivan: Australia Commits to Reducing Carbon Emission with Carbon Tax Implementation PR Newswire SYDNEY, July 19, 2012 - While challenging industrial companies, the tax creates opportunities for clean energy and energy-efficiency system suppliers SYDNEY, July 19, 2012 /PRNewswire/ -- Australia has made a move toward its commitment to reducing carbon emission with the implementation of carbon tax from July 2012 onward. Now, companies with high emissions – over 25,000 tonnes annually – are liable to pay the carbon tax. While this poses strong challenges for industrial companies, it will drive demand for energy-efficiency solutions and renewable energy power generation in Australia, despite the unchanged renewable target in 2020. The new analysis from Frost & Sullivan (http://www.energy.frost.com), Impact of Australia Carbon Tax on the Energy Markets-a Strategic Perspective, provides an overview of the carbon tax, available government grants and programs, carbon tax in the international scenario, industries' readiness for the tax, and the opportunities created in the wake of the carbon tax. "Since July 2012, 500 large emitters in Australia are liable to pay carbon tax at a fixed price of $AUD 23 per tonne CO2, which will have a ripple effect on the whole economy," said Frost & Sullivan Senior Consultant Sarah Wang.