Australia's two renewable energy agencies will be allowed to invest in low emissions technologies under new legislation set to be introduced by the Federal Government.
The Government is also putting $95.4 million towards a Technology Co-Investment Fund to help agriculture, manufacturing, industrial and transport businesses reduce their emissions.It is also committing $35.4 million to upgrade the tracking of energy and emissions data.
"Solar panels and wind farms are now clearly commercially viable and have graduated from the need for government subsidies and the market has stepped up to invest," Prime Minister Scott Morrison said. "This will support our traditional industries — manufacturing, agriculture, transport — while positioning our economy for the future."Minister for Energy and Emissions Reduction Angus Taylor said the success to date of the agencies meant a promising future for the low-emissions technology industry.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australian billionaire says he wants to meet Prime Minister's energy challenge using renewablesWhen tech entrepreneur Mike Cannon-Brookes heard Scott Morrison challenge the private sector to come up with an alternative to a new gas-fired power station yesterday, he called up Elon Musk.
Read more »
Scott Morrison's new power plan criticised as 'part of the problem, not the solution' to climate crisisEnvironmentalists have rejected the government’s focus on gas, instead calling for a 'green recovery' to the coronavirus crisis that would invest in renewable technologies.
Read more »
Renewables create 'significant' stability challenges | Sky News AustraliaResources Minister Keith Pitt says 'the most expensive form of electricity generation' is the form 'that doesn’t work', spruiking gas over renewable energy.\n\n“We’ve got a whole heap of intermittent wind and solar out there in the market, which has been allowed to be built by states,” Mr Pitt told Sky News.\n\n“That now creates some very significant challenges in terms of stability of the grid.”\n\nThe Prime Minister on Monday outlined his ambitious plan for a gas-led recovery out of the COVID-19 recession, issuing a strong ultimatum for the energy sector. \n\nScott Morrison demanded electricity generators develop a plan before April 2021 to fill a looming shortfall in dispatchable power due to the closure of the Liddell coal powerplant in the Hunter Valley.\n\n“If we can provide affordable gas that makes manufacturing internationally competitive, that means more jobs back onshore and more Australians in work,” Mr Pitt said.\n\n“Gas will be a very important part of economic recovery.”\n
Read more »
Gas will help Australia bounce back better and stronger from the pandemicGas will help Australia bounce back better and stronger from the pandemic, writes AngusTaylorMP
Read more »
PM claims Australia will hit 2030 emissions targets in 'canter'Scott Morrison made the claim during a national energy address, where he encouraged accelerated development of gas fields and the continued use of coal. AusPol 9News
Read more »
Morrison to back construction of new gas-fired power stationThe government will open up new gas supplies and back the construction of a gas-fired power station in a mammoth new plan that aims to prevent an energy price spike.
Read more »