The Australian Renewable Energy Agency (ARENA) has launched its new Investment Plan to support tech innovation for Australia’s shift to net zero emissions.
ARENA’s strategy aligns with the Australian Government’s Low Emission Technology Roadmap. ARENA funding will be directed towards projects that:
- optimise the electricity transition and further reduce the cost of renewable electricity generation
- commercialise clean hydrogen for both domestic and export applications
- support the transition to low emissions production of aluminium and steel.
ARENA will also explore opportunities to scale-up carbon capture and storage (CCS) and reduce the cost of soil carbon measurement technologies.
ARENA CEO Darren Miller said, ‘We are at the beginning of a critical decade for Australia and the world as we make the investments required to reduce emissions in line with international commitments.’
‘To get to net zero, we need to invest today in the technologies that are going to transform our energy system and our economy in the years to come. Our new priorities are focused on the next generation of energy technologies that will position Australia as a leader in a net zero world.’
ARENA supports researchers and start-ups through to major Australian companies. Last year, ARENA was renewed for a further decade with $1.62 billion in funding.