The Government is pushing ahead with its commitment to invest in low emissions technologies that strengthen our economy, support jobs and businesses, and help reduce global emissions.
The Technology Investment Roadmap and Australia’s first Low Emissions Technology Statement outline the government’s plans to:
The Statement will do so by supporting the development of new and emerging technologies in 5 priority areas:
The Statement sets economic stretch goals for each technology:
The Government expects to invest over $18 billion in low emissions technologies over the decade to 2030. These investments will support over 130,000 jobs by 2030, with more than half of these in regional communities.
Targeted investment in low emissions technologies will tackle technology challenges and create opportunities. This includes helping Australian business capture a share of emerging global markets.
The Statement also articulates a comprehensive investment framework to guide key government agencies (the Clean Energy Finance Corporation, Australian Renewable Energy Agency and Clean Energy Regulator) towards the Statement’s priorities. It will also guide State deals that will deliver initiatives to increase the supply of electricity and gas, improve grid security and reduce emissions.
Technology deployment will complement other strategies lowering long term emissions including the National Hydrogen Strategy and Future Fuels Strategy.
The Statement draws on the insights our department gathered from stakeholders in response to the Technology Investment Roadmap Discussion Paper, released in May this year. We received around 500 written submissions and conducted 7 targeted virtual workshops with more than 150 businesses and community organisations.
The Government will update priorities each year with advice from an expert group of science, business, technology and government leaders.