Australia's Subsidies for Solar Panel Makers: Worth the Risk?

When Anthony Albanese outlined big subsidies for solar panel makers last week, he had an instant answer to the huge questions about his industry vision.

This is a pitch to voters about a growth agenda. Albanese promises a bigger economy and a bigger country. And he blames Peter Dutton for having no vision. The Labor policy arrives at a point in the election cycle when the opposition leader is yet to reveal an economic plan. Gulp. The White House claims the rewards are huge – such as $US5.6 trillion in benefits for the environment. That does not include the added jobs in new industries.

Labor has been here before. As prime minister more than a decade ago, Kevin Rudd said he wanted to lead a country that could “make things”. Some of the Labor subsidies were fairly modest and, in the car industry for example, unwound over nine years of Coalition rule. Albanese responds to that lesson by scaling up the ambition.

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