ARENA unveils roadmap to net zero emissions
ARENA today launched its new Investment Plan that sets out how they will support technological innovation that will underpin Australia’s shift to net zero emissions
Moving forward, ARENA funding will be directed towards projects that:
- optimise the electricity transition, including energy storage, large scale grid integration, flexible demand and further reducing the cost of renewable electricity generation
- commercialise clean hydrogen for both domestic and export applications; and
- support the transition to low emissions aluminium and steel.
ARENA will also be exploring opportunities to scale up carbon capture and storage (CCS) and reduce the cost of soil carbon measurement technologies.
ARENA CEO Darren Miller said the new priorities take into account the key technologies and sectors where ARENA can have a real impact and where Australia can benefit in the shift to net zero emissions.
"Our new priorities are focussed on the next generation of energy technologies that will position Australia as a leader in a net zero world,” he said.
ARENA will deliver budget programs including the Future Fuels Fund, the Industrial Energy Transformation Studies Program, the Regional Australia Microgrid Pilots Program, the Freight Efficiency Assistance Grants and Freight Energy Productivity Trial Program.
Since 2012, ARENA has provided $1.77 billion in funding to more than 600 renewable energy projects with a total project value of $7.75 billion. ARENA has supported projects across the innovation chain from R&D to world-first commercial scale projects, and supports researchers and start ups through to major Australian companies across the country. Last year, ARENA was renewed for a further decade with $1.62 billion in funding.