As a world leader in renewable energy, Australia is now prioritising its commitment to ultra-low-cost solar technology to help lower emissions, energy costs and provide more jobs.
Through the Australian Renewable Energy Agency (ARENA), over $40 million has been made available to support research and development of solar PV technology.
The Australian Government plans to deliver ‘Solar 30 30 30’, which targets 30 per cent module efficiency and a cost of 30 cents per installed watt at utility-scale by 2030.
Minister for Industry, Energy and Emissions Reduction Angus Taylor said that the project will help lower the cost of electricity in Australia and achieve net-zero emissions by 2050.
“The Morrison Government is accelerating Australian innovation and ingenuity in solar R&D to drive down the electricity bills of households and industry sectors,” Minister Taylor said.
“The Solar 30 30 30 target is crucial to getting solar power down to less than $15 per megawatt-hour.”
Assistant Minister to the Minister for Industry, Energy and Emissions Reduction Tim Wilson said Australians should be proud that the Government is investing in rooftop solar as part of the solution to climate change.
“Each day the technology is getting better,” Assistant Minister Wilson said.
“This investment by the Australian Government will bring higher efficiency, cheaper solar for more Australians now and by 2030 and is another plank in Australia’s path to carbon neutrality.”
The ultra-low-cost solar project, which will facilitate cost reductions for other clean energy technologies, is just one of the six priority technologies under the Low Emissions Technology Statement 2021.
Other priority technologies include clean hydrogen, energy storage, low emissions materials, carbon capture and storage, and soil carbon measurement.
Australia’s technology-led approach is expected to deliver around half of the emissions reductions Australia needs to achieve net-zero by 2050.
Source: Minister for Industry, Energy and Emissions Reduction Media Release