The Coalition Government has a strong record on renewable energy, with an unprecedented wave of investment in renewable energy currently underway and new records being set.
2017 was Australia’s biggest year for renewables on record. According to Bloomberg New Energy Finance, Australia is the 7th biggest investor in renewables and the 3rd highest on a per capita basis.
We are supporting the Australian Renewable Energy Agency (ARENA) with over $1 billion of grants to invest in new renewable projects. For example, grants for 12 new large-scale solar photovoltaic (PV) projects – enough to power 150,000 Australian homes.
With funding from ARENA, we have also launched a world first Virtual Power Plant, which will connect 1,000 batteries and households to operate as a five megawatt solar power plant.
The $10 billion Clean Energy Finance Corporation will continue to support emerging clean technologies.
Investments in pumped hydro energy storage projects in Queensland, South Australia and Snowy Hydro 2.0, which will be the biggest battery in the Southern Hemisphere, will help make wind and solar more reliable.
The Government’s approach is to deliver a secure and affordable energy system as it transitions to a lower emissions future.