The institutions have been proposed as part of the range of taxation measures and new policies announced by the Federal Government with the aim of reducing Australia’s greenhouse gas emissions and cutting carbon pollution.
The Australian Renewable Energy Agency (ARENA) will manage $3.2 billion in existing Federal Government grants, bringing together a range of clean energy initiatives previously administered by different agencies including the Solar Flagships Program, funding from the Connecting Renewables initiative and the Australian Solar Institute.
The Clean Energy Council (CEC) has said that ARENA will “turbo-charge” development and take cutting-edge technologies out of the laboratory and into the national electricity grid.
“This reform will ensure targeted funding for early-stage renewable energy technology,” CEC Director of Strategy Kane Thornton said.
“The establishment of this new independent body will also protect that funding from political interference, providing investors with greater certainty,” Mr Thornton said.
The CEC urged the Federal Government to add to existing funding using revenue from the proposed carbon pricing mechanism.
“The creation of ARENA should not delay the roll-out of existing funding, which is needed on the ground as soon as possible,” Mr Thornton said.
