The Australian Financial Review has published a story on the Renewable Energy Target and the damaging effect the oversupply of Solar Hot Water RECs and the phantom supply of Solar Credits RECs is having on the Wind industry and other renewable energies.

For subscribers of the AFR, the article "Green Energy Backfire" can be downloaded here.

Some Excerpts:

"The Head of Victorian-based Keppel Prince Engineering, will today address staff... he may be forced to cut 150 jobs"

"Unless there's a short-term fix by government, there won't be any investment [in large scale renewable energy] for the next 2 or 3 years, Pacific Hydro managing director Rob Grant said."