Our Strategic Priorities
Our Funding and Investment Plan lists our three investment priorities and address the key areas that can help create a smooth transition to renewable energy.
Priority 1. Optimise the transition to renewable electricity
We are helping Australia move towards a lower-cost, largely renewable electricity system, both on and off the grid, that is able to meet significantly higher domestic and export demand.
To do so, we commit funds to support innovation that will help to:
- Enable ultra low-cost renewable generation
- Support flexible demand
- Improve the economics of energy storage
- Optimise integration of large-scale renewable energy into the electricity system.
Priority 2. Commercialise clean hydrogen
We are supporting industry to find innovative solutions that can help Australia establish a viable clean hydrogen industry and realise our potential as a significant exporter of clean energy.
This will require innovation across the full hydrogen value chain including cheap, firmed renewable electricity, a step change in electrolyser technology, as well as rapid proving and scaling of hydrogen use cases. Under this investment priority, we will provide funding to support the following high-impact innovations:
- Reduce the cost of hydrogen produced from renewable energy
- Research and development to demonstrate technologies that address technical challenges along the hydrogen value chain
Priority 3. Support the transition to low emissions metals
We will help Australian industry to reduce emissions by investing in innovative and replicable technologies, processes and commercial models that have the potential to lower emissions.
We will provide funding to:
- Accelerate the transition to a low emissions steel value chain
- Accelerate the transition to a low emissions aluminium value chain.
Priority 4. Explore opportunities to scale up carbon capture and storage (CCS) and reduce the cost of soil carbon measurement
We plan to consult with industry, researchers and the Government to build our understanding of these technologies and to develop our approach to supporting research, development and demonstration projects that have the potential to:
Scale carbon capture and storage (CCS), including scaling cost-effective compression, transport and storage of CO2.
Catalyse innovation in soil carbon sequestration, including bringing down the cost of soil carbon measurement and verification.
Priority 5: Deliver the targeted programs in the 2020-21 Federal Budget
We are recognised for our expertise in providing grant funding to improve the competitiveness and supply of renewable energy in Australia. As part of the 2020-2021 Federal Budget, the Government provided ARENA with $193* million to deliver the following targeted programs:
Microgrids are unlocking reliable, affordable renewable energy for remote populations.
A new study will scope the feasibility of producing renewable hydrogen in Gladstone for the Japanese market.
As ARENA launches a new investment plan, CEO Darren Miller speaks to our ReWired podcast to explain how renewables could soon shake up the heaviest of heavy industries.