The Albanese Government will invest $1 billion in Australia’s solar power manufacturing capabilities both at home and abroad, seeking to position Australia as a renewable energy superpower.
This new investment follows the introduction of the Net Zero Economy Authority legislation in parliament today, designed to facilitate investment in a clean energy future for Australia’s regions.
The government says its Solar Sunshot investment “will help Australia capture more of the global solar manufacturing supply chain through support, including production subsidies and grants”.
“Australian research helped invent the modern solar panel – today’s announcement is about creating Australian jobs to help manufacture them,” Federal Minister for Climate Change and Energy Chris Bowen said.
“We know that the world’s climate emergency is Australia’s jobs opportunity, $1 billion to support Australian manufacturing in solar technology will help seize that opportunity.”
It is a timely announcement, given the Government’s plans to convert the former coal-fired Liddell Power Station into a solar energy manufacturing hub.
From mining pit to solar panels
“Australia should not be the last link in a global supply chain built on an Australian invention,” Prime Minister Anthony Albanese said.
“I want a future made in Australia. And I want a future made in our regions. Places like the Hunter that have powered our nation for more than a century will power our future.
“We have every metal and critical mineral necessary to be a central player in the net zero transformation and a proven track record as a reliable energy producer and exporter.
“We can also invest in strategic manufacturing capability, particularly in components critical to the energy and economic transition, like solar panels.
“Historically, Australia has been good at going from the mining pit to port and long may this continue. But the Australian Government will also invest in the path from pit to panels and capture more value for our economy and workforce.”
The $1 billion federal investment in the Solar Sunshot program builds on more than $40 billion of investment committed by the Australian Government to make Australia a renewable energy superpower.
Australian-made solar panels
The NSW Government is also forging ahead with its net zero strategy, advancing the NSW Net Zero Manufacturing Initiative in parallel with this latest solar-focused funding from federal sources.
The first $275 million round is now open to support workers, small businesses, manufacturers and innovators to take advantage of the transformation of the energy grid.
“We will leverage our government procurement spend to build in offtake agreements with local solar manufacturers and foster the industry’s growth,” NSW Minister for Domestic Manufacturing and Government Procurement Courtney Houssos said.
“For every job created in manufacturing there are a further three-and-a-half jobs sustained in the supply chain.
“The NSW Labor Government is committed to rebuilding the domestic manufacturing sector and bringing jobs back to NSW.”
From here, the Australian Renewable Energy Agency (ARENA) will collaborate with industry to design and deliver the Solar Sunshot initiative with the support of the Australian Government.
ARENA will scrutinise the entire supply chain from metal ingots and silicon wafers to solar cells, module assembly and components including solar glass, inverters, advanced deployment technology and solar innovation.
