$40 million funding for ‘Solar 30 30 30’- A step closer to Net Zero Emissions
Solar 30 30 30 received a $40 million funding to support the government’s program towards Net Zero Emissions by 2050. The Australian Renewable Energy Agency (ARENA) has provided this funding to support renewable energy zones by expanding into energy efficiency space.
What is ‘Solar 30 30 30’?
As a part of the Government’s Technology Investment Plan, the Federal Minister for Industry, Energy, and Emissions Reduction, Angus Taylor, released the Low Emissions Technology Statement 2021 (LETS 2021). As per LETS 2021, the goal is to provide ultra-low-cost solar power, i.e., getting solar power at less than $15 per MWh.
An ambitious goal to achieve- 30% solar efficiency at 30 cents per installed watt by the year 2030. Hence, Solar 30 30 30.
“Australian researchers have led the world in solar R&D. Today, 90% of solar panels in the world use an Australian-designed technology.” Angus Taylor said.
“We are committed to reducing electricity sector emissions and unlocking the potential of other low emissions technologies like clean hydrogen.” Minister Taylor added.
$40 million funding
The Australian Renewable Energy Agency (ARENA) opened a $40 million funding to promote research and development for ultra-low-cost renewable energy generation. The $40 million funding is split into two streams:
- Cells and Modules: Research and development to build the best and improvised solar cells and modules.
- Balance of system, operations, and maintenance: reducing upfront and ongoing costs.
Darren Miller, CEO, ARENA said, “This $40 million R&D funding round will support Australia’s solar researchers and industry to get behind the target of Solar 30 30 30 and drive the innovation that will deliver ultra low cost solar.”