The Australian Renewable Energy Agency (ARENA) has this month launched its new Investment Plan outlining the priorities which will guide funding from their Advanced Renewables Program. Funding is expected to reach $800 million over the next few years.
The Investment Plan is part of ARENA’s commitment to demonstrate how renewable energy can contribute to a reliable, secure, and affordable energy system for Australians. ARENA will address these and other challenges as Australia moves towards a low emission economy.
“We are looking for new ways to adapt our electricity grid to increase productivity, make the grid more flexible and better integrate renewable energy so it can be stored and shared when and where it is needed,” ARENA CEO Ivor Frischknecht said.
“As part of this focus, we will be looking at a range of flexible capacity technologies and mechanisms from storage to demand response that will allow us to match electricity supply and demand at all times,” Mr Frischknecht said.
ARENA says that big ideas are the key to transforming Australia’s renewable energy future and their job is to bring these ideas to life. Their funding, knowledge, and network can assist in bringing projects from innovation stage through to commercialisation.
They have unveiled four investment priorities as part of their Innovating Energy plan.
Delivering a secure and reliable electricity system
- Investment in innovation
- Deliver affordable low emission solutions
- Improve grid stability
- Better integrate renewable energy so it can be stored and shared when needed
- Real-time detection and response to power issues
- Show that renewable energy can add value to the electricity system
Accelerating solar PHOTOVOLTAIC (pv) innovation
- ARENA is seeking new technologies and tools to reduce costs of PV systems, improve reliability and develop materials
- Solar could produce up to 30 per cent of Australia’s electricity within 20 years
- Contribute to research and development to make solar PV more efficient and affordable
Improving energy productivity
- Reduce energy costs and emissions in the transport, building and industry sectors
- Wants to help Australia meet and exceed national energy productivity plan goal
- Wants to invest in innovation to improve energy productivity
- Value chain optimisation
Exporting renewable energy
- Create new, scalable export value chains in renewable energy
- Make sure Australia is at the forefront of exporting renewables in the future
- Will create jobs and contribute to a global transition to low emissions
ARENA is looking for proposals that align with these objectives. All funding applications from 1 May 2017 will be considered with these priorities in mind.
You can find example proposals and more information about ARENA’s investment plan here.
ARENA has outlined the application process and conditions of their Advanced Renewable Program here.
We have helped several companies achieve success with their ARENA applications because of our renewable energy expertise. How can we help you? Call us on 07 3232 1115.
