The development of commercially viable low or zero emission energy technologies is essential to achieving significant and affordable reductions in greenhouse gas emissions. Energy production is the primary source of Australia's emissions and Australia's current level of energy demand is expected to double by 2050. Clean energy technologies will play a critical role in moving to a low emissions future while meeting this increasing energy demand.
Clean energy technologies will contribute significantly to achieving Australia's 2050 target of a 60% reduction in greenhouse emissions on 2000 levels. These technologies can also position Australia towards continued economic growth from its natural endowments in coal, gas and renewable energy resources.
The Department of Resources, Energy and Tourism is the lead agency for clean energy technology development. The Department is responsible for a number of initiatives that provide assistance for research, development and large scale demonstration of clean energy technologies, including:
- the $500 million Renewable Energy Fund to support development and demonstration of renewable energy technologies
- the $500 million National Clean Coal Initiative which will generate $1.5 billion in new investment by working in partnership with the private sector
- the $150 million Energy Innovation Fund, which will provide $100 million for solar research, and $50 million for general clean energy research.
The Australian Government provides support for energy technology development through a range of other measures, including:
- Australian Research Council grants
- Cooperative Research Centres funding
- CSIRO funding.
The emissions trading scheme and renewable energy target will also provide significant further incentives to advance clean energy technologies in Australia.