Government to Spend $2 Billion on Low-Emissions Energy Technology

Thursday, September 17th, 2020

A federal government package worth almost $2 billion is being announced, which will invest in low-emissions energy technology.

It aims to support jobs, cut costs for households, and improve energy reliability.

Energy and Emissions Reduction Minister Angus Taylor says the package supports “traditional” industries.

“It’s a $1.9-billion investment package in technologies that are emerging, that will lower emissions [and] back jobs – now and into the future – with a particular focus on agriculture, manufacturing, industry, and transport,” says Mr Taylor.

The bulk of the funding will go to the government’s energy investment agencies responsible for supporting new technology, while $300 million will be used to develop emergency technology such as mini electricity grids and carbon capture projects.

Money will not be used to prop up wind or solar, as both are now considered to be commercially viable.

 

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