A commitment to provide $1.9 billion of funding to extend the Australian Renewable Energy Agency (ARENA) for another decade is a welcome announcement from the federal government that will play a crucial role in accelerating Australia's transition to becoming a clean energy superpower.
Clean energy has delivered an enormous economic boost to Australia during the past few years as a result of unprecedented investment in large-scale wind, solar and storage as well as a record number of Australians investing in the installation of rooftop solar and household battery solutions.
"ARENA has played an important role in driving renewable energy development over the past decade. This commitment from the federal government will ensure continued support for energy storage and renewable energy research, allow major industries to explore opportunities to adopt renewable energy and provide longer-term certainty to the development of a world-leading hydrogen industry," said Clean Energy Council Chief Executive, Kane Thornton.
"An extended ARENA and a renewed commitment to these initiatives will ensure Australia can take advantage of its enormous opportunity to become a clean energy superpower.
"While expanding ARENA's mandate to include carbon capture and storage is a disappointing distraction, the vast majority of this new funding is consistent with the energy industry and investors’ strong commitment to renewable energy and energy storage," said Thornton.
The Clean Energy Council has been campaigning for an extended commitment to ARENA so that it can play a key role in a Clean Recovery from COVID-19 and set Australia up to become a clean energy superpower.
"The clean energy industry looks forward to exploring the detail of this announcement and working with the government on its technology roadmap and further policy support that will give increased investor certainty and guide the transition to renewable energy," concluded Thornton.
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Clean Energy Council Media Manager
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