Australia’s Federal Government releases 2010/2011 budget with strong support for solar

May 13, 2010
Facebook
Twitter
LinkedIn
Reddit
Email

The Australian Federal Government announced its 2010/2011 budget on May 11, showing strong support for renewable energy. The Australian Greens leader, Bob Brown, announced a new AUS$652 million Renewable Energy Future Fund, which will be part of an expanded AUS$5.1 billion Clean Energy Initiative, reports Energy Matters.

“As we continue to work to build the necessary domestic and international consensus for carbon markets, we will roll out the most substantial renewable energy plan this country has seen – consistent with our decision to increase the renewable energy target to 20% by 2020,” said Brown in his Budget speech.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“Tonight I announce the next step – a new AUS$652 million Renewable Energy Future Fund, which will be part of an expanded AUS$5.1 billion Clean Energy Initiative. This Fund will leverage private sector investment to support renewable energy projects, and the development and deployment of low-emissions technologies. It will also be used to enhance Australia’s take-up of energy efficiency, including helping households and businesses reduce their energy consumption.”

The Clean Energy Council (CEC) have since reported that AUS$42m will be allocated to Renewable Energy Future Fund for 2010-11, with the majority earmarked for 2011-12. The CEC says the aims of the Renewable Energy Future Fund are to leverage private venture capital by encouraging partnerships between the Government and the private sector in the commercialization of new renewable technologies and to encourage energy efficiency measures to help businesses and households reduce their energy consumption

The Government has also announced AUS$200 million to establish a Critical Skills Investment Fund, providing up to 10,000 training places on an annual basis to be created with an initial focus on industries including renewable energy.

An additional AUS$102.7 million will also provide an added 600,000 home sustainability assessments under the now rather unusually named “Green Loans” program – unusually named in the sense that the Green Loans component is no longer offered after it was axed in February 2010.

More information on the Renewable Energy Future Fund is expected shortly.

Read Next

Premium
October 17, 2025
According to Ronak Maheshwari of CRC-IB, there has been a struggle for US renewable power projects to secure necessary equity .
October 17, 2025
Norwegian renewable energy firm Scatec has signed lease agreements for 64MW of solar PV and 10MWh of energy storage capacity in Liberia and Sierra Leone.
October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
Masdar and Turkey have entered the final stage of US$1 billion agreement to develop the 1.1GW plant in Bor, Niğde Province, central Turkey.
October 16, 2025
T1 Energy and Nextracker have agreed to use the latter’s steel module frames at the former’s new 5GW module manufacturing facility in Dallas.
October 16, 2025
US utility-scale solar additions grew by 56% in 2024, reaching 30GW from 2023’s 19GW and representing over 54% of all new electricity generation capacity added in the country last year.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK