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New Energy World
New Energy World embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low carbon technologies.
Australia to invest A$1bn in Solar Sunshot programme
10/4/2024
News
The Albanese government of Australia has announced it will invest A$1bn ($660mn) in the country’s solar industry to ‘supercharge’ its ambition to become a renewable energy superpower.
The Solar SunShot programme will aim to help Australia capture more of the global solar manufacturing supply chain through support, production subsidies and grants.
‘Australia should not be the last link in a global supply chain built on an Australian invention,’ Prime Minister Anthony Albanese said in a speech delivered at the recently-closed Liddell coal-fired power station in the Hunter Valley region in New South Wales. ‘I want a future made in Australia. And I want a future made in our regions. Places like the Hunter that have powered our nation for more than a century will power our future,’ he said.
While one in three Australian households have solar panels – the highest uptake in the world – only 1% of those have been made in Australia.
‘We have every metal and critical mineral necessary to be a central player in the net zero transformation, and a proven track record as a reliable energy producer and exporter,’ Albanese continued.
The A$1bn investment builds on over A$40bn of investment so far committed by the Australian government. The new commitment follows the introduction of recent legislation establishing the Net Zero Economy Authority to ensure Australian workers and regions realise and share the benefits of the net zero economy. Last month, the government announced funding of A$189.3mn over four years from 2023–2024 (and A$53.3mn/y ongoing) for the Authority.
The Authority will aim to support the net zero transformation by acting as a catalyst for private and public investment, major project development, job creation and transition, and skills and community development.
VH Global Sustainable Energy acquires solar and storage projects
In other news, VH Global Sustainable Energy Opportunities has agreed to acquire and build two 4.95 MW solar and storage hybrid sites in New South Wales for A$21.3mn. This commitment adds to its existing Australian solar and storage investment programme, bringing the total capacity to 37 MW/60 MWh across seven projects. The construction of these hybrid sites is expected to begin in 2Q2024, with completion expected in early 2025.
- Further information: Australia claims development of solar cell technology, in the form of the passivated emitter and rear solar cell (PERC) design invented by Martin Green in 1983.
