TAXPAYERS will pump $10 billion over five years into green power and clean technology.
And they'll become part-owners and financiers of wind, solar and other renewable energy projects.
The unprecedented investment comes despite the Productivity Commission calling on the government to scrap renewable energy subsidies because they were an inefficient way to slash emissions, and warnings from Reserve Bank board member Warwick McKibbin that it could drive up the costs of abatement.
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