Clean Energy Initiative

Brief description:

The Australian Government launched this A$4.5 billion initiative in May 2009 to support the growth of clean energy generation and new technologies, reduce carbon emissions and stimulate economic activity. The Clean Energy Initiative planned to invest:

• A$2.4bn in low emissions coal technologies, including $2bn for industrial-scale CCS projects under the CCS Flagship Program;
• A$1.6bn in solar technologies, including new funding of $1.36bn in a Solar Flagships Program;
• A$465 million to establish Renewables Australia to support the commercialisation of leading-edge technology.

The new body set up to administer the fund was also to be an advisor to local and national government on the implementation of renewable energy technologies, oversee the development of essential skills and expertise and develop both domestic and international markets.

The Australian Government is now rolling out its Clean Energy Future package, supported by legislation, which plans to provide clean energy, cut pollution and boost the economy.