Refining our technology-led approach to emissions reductions

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2 November 2021

The Australian Government has released its Low Emissions Technology Statement 2021 (LETS 2021).

This is the second statement released under the Technology Investment Roadmap. It sets out Australia’s technology-led approach to accelerating the development of low emissions technologies essential to achieving net zero emissions.

We publish a Low Emissions Technology Statement every year. Each statement reports on the roadmap’s progress and reviews and refines our investment approach.

LETS 2021 introduces ultra low-cost solar as a new priority technology for investment. This includes a stretch goal of solar electricity generation at $15 per megawatt hour, about a third of today’s cost.

Ultra low-cost solar joins the existing priority technologies identified in last year’s statement:

  • clean hydrogen
  • energy storage
  • low-emissions materials, like steel and aluminium
  • carbon capture and storage
  • soil carbon measurement.

LETS 2021 also highlights the enabling infrastructure needed to deploy low emissions technologies. The first 2 infrastructure priorities are:

  • battery charging and hydrogen refuelling stations for electric vehicles
  • a digital electricity grid.

The government has announced $1.7 billion to fund the actions in LETS 2021. This includes $565 million for low emissions technology partnerships with other countries.

The government will invest more than $20 billion in low emissions technologies over the next decade. This funding will drive at least $80 billion and up to $120 billion of combined public and private investment. It will also create 160,000 jobs.

Read the Low Emissions Technology Statement 2021

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