“Today’s package of low-emissions technology funding announcements from the Federal Government represents a substantial step towards a clean economy,” Innes Willox, Chief Executive of the national employer association Ai Group said today.
“ARENA’s work has helped cut the cost and speed the growth of clean energy in recent years. Ai Group has been working with stakeholders and the Government to ensure that contribution can continue – and begin to build a clean economy that extends well beyond the power sector.
“Electricity accounts for just a third of Australia’s greenhouse gas emissions. As we build a new competitive advantage in clean energy, we also need practical and investable pathways for industry, transport and agriculture to decarbonise. That broader scope makes it sensible to expand the range of technologies that ARENA can consider. For instance, carbon capture, utilisation and storage is one of a handful of known options for addressing hard-to-abate industrial emissions.
“The $1.43 billion in baseline funding committed to ARENA over ten years is a very substantial sum and will make a big difference to manufacturing and other sectors. Maintaining ARENA’s strong governance approach should give everyone confidence that this money will be used wisely.
“However, building a clean economy and capturing Australia’s opportunities, such as potential strong growth in clean energy-intensive manufacturing, will require further public and private investment. We welcome the Government’s signal that it will add further funding to ARENA as needed, starting with the $193.4 million for additional initiatives announced today.
“Beyond ARENA the package includes a range of helpful steps to accelerate energy productivity, clean fuels, hydrogen, microgrids and more.