The functions of the Australian Renewable Energy Agency (ARENA) have been expanded to support the next generation of low emissions technologies.
Minister for Energy and Emissions Reduction, Angus Taylor said the new regulations, which came into effect on 30 July, broadened ARENA’s mandate, enabling it to play a role in stimulating investment to help achieve the Department of Industry, Science, Energy and Resources’ Technology Investment Roadmap stretch goals and energy efficiency measures.
Mr Taylor said the Roadmap identified five priority new and emerging technologies for investment, including clean hydrogen; long duration energy storage; low carbon materials; carbon capture and storage; and new measurement technologies for healthier soils.
He said ARENA would deliver a series of targeted programs to support the new and emerging technologies, including support for new electric vehicle charging and hydrogen-refuelling infrastructure; higher productivity and lower emissions in heavy vehicle fleets; identifying opportunities to adopt new technologies and increase productivity; and for microgrids in regional Australia.
“Expanding ARENA’s remit to unlock the transformative low emissions technologies that businesses need was a recommendation of the King Review,” Mr Taylor said.
“The International Energy Agency recently found that more than half of the emissions reductions required to achieve global net zero will come from technologies that are not yet commercial,” he said.
Mr Taylor said the changes allowed ARENA to support technologies that could reduce emissions across all sectors of the economy.