Australia's changing energy mix

10 Jul 2011Archived News Climate Change Matters

Australia is aiming to generate 20% of its primary energy from renewable sources by 2020, with an extended target of deriving 40% of its energy fAustralia is aiming to generate 20% of its primary energy from renewable sources by 2020, with an extended target of deriving 40% of its energy from renewable sources by 2050.rom renewable sources by 2050.

The emphasis on promoting renewable and clean energy technologies provides a forward price signal for investment in renewable energy generation.

With the release of “Securing a clean energy future”, the government is focusing on programs which support investment in renewables through a number of mechanisms providing grants.

  • The new Clean Energy Finance Corporation operates an investment fund of $10B with two streams of investment funding available: renewable technologies and low emissions co-generation technology. The Corporation operates independently of the government.
  • The Australian Renewable Energy Agency (ARENA), which will be responsible for $3.2B to be invested in research and development initiatives and demonstration projects. It is intended that ARENA will allocate funding for "early-stage grants and financing assistance for projects that strengthen renewable energy opportunities and make them more cost competitive."
  • The establishment of a $200M Clean Technology Innovation Program, which forms part of the broader $1.2B Clean Technology Program. The grants under the Clean Technology Innovation Program are also intended to support "R&D, proof-of-concept and early-stage commercialisation in renewable energy, low-pollution technology and energy efficiency." Grants awarded under this program are additional to the R&D tax concession. They are also provided on the basis of a dollar-for-dollar co-contribution from business.

Your business may be able to identify projects and apply for funding if you have the opportunity to undertake large scale investment in co-generation or on-site renewables. Once more details are known, Energetics can assist in determining the feasibility of projects and the process of making applications for grants. 

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