ARENA welcomes the Australian Government’s first Low Emissions Technology Statement released today by the Minister for Energy and Emissions Reduction, Angus Taylor MP.
Developed as part of the Australian Government’s Technology Investment Roadmap process, the Low Emissions Technology Statement outlines the priority technologies with the potential for transformational economic and emissions outcomes, in Australia and globally, including clean hydrogen, energy storage, low carbon steel and aluminum, carbon capture and storage and soil carbon.
The inaugural Statement also outlines emerging and enabling technologies a number of which are currently supported by ARENA including energy efficiency, electric and hydrogen vehicle charging and refuelling, and low emission energy system enablers such as virtual power plants.
Together with other agencies including the Clean Energy Finance Corporation and the Clean Energy Regulator, ARENA will be a key part of the Government’s efforts to accelerate priority technologies to achieve stretch goals. ARENA’s Chair will also become a member of the permanent advisory council providing advice on the Roadmap.
In support of the Low Emissions Technology Statement, the Australian Government last week announced a $1.9 billion package including $1.62 billion in new funding for ARENA over the next 10 years.
ARENA CEO Darren Miller said the agency looks forward to contributing to the goals and opportunities outlined in the first Low Emissions Technology Statement.
“There are a number of priority technology stretch goals and emerging and enabling technologies outlined in the Low Emissions Technology Statement where ARENA can hit the ground running and build on our considerable body of work and knowledge. Continuing this momentum is important for the market and for the Australian economy,” Mr Miller said.
“Over the years, as technologies have matured and reached commercial viability, ARENA has broadened its scope and shifted its focus from funding renewable energy generation — such as solar and wind which are now mature — to supporting the energy transition more broadly including hydrogen, energy storage, electric vehicles and enabling technologies. This is reflected in our current investment priorities which are well aligned with the Low Emissions Technology Statement.
“It’s pleasing to see ARENA’s hard work in the renewable energy sector acknowledged through new funding and an expanded role. We look forward to building on a strong project portfolio and established stakeholder relationships to help unlock the next generation of low emission technologies,” he said.