On Wednesday, Energy Minister Chris Bowen used a National Press Club address to announce another subsidy scheme for renewable energy. This was intended to cover factory rooftop installations of solar panels, bringing them into the Small-Scale Renewable Energy Scheme (SRES) that applies to household rooftops. Labor wants to introduce as many measures as possible to lock-in a future Coalition government to a Net Zero, end-coal agenda. The latest subsidy brings my estimate of the annualised level of subsidies to renewables to over $19 billion a year. The aggregate $19 billion annual cost of renewable subsidies is equivalent to almost 20 per cent of private capital investment.