Australian manufacturers can now access a $500m pool of funding to advance local production of solar panels.
The Australian Renewable Energy Agency (ARENA) is administering the first round of a billion-dollar program.
Prime Minister Anthony Albanese said while one in three Australian households had solar, only one percent of those solar panels had been made in Australia.
Prime Minister Albanese said targeted funding would create jobs and a more resilient supply chain.
“The International Energy Agency estimates 1300 manufacturing jobs for each gigawatt of solar PV production, meaning a supercharged domestic industry will create thousands of jobs in Australia.”
He said initiatives like the $1 billion Solar Sunshot program would build capability in the energy supply chains of the future and support more manufacturing opportunities.
“The first $550 million, administered by the Australian Renewable Energy Agency (ARENA), will support the commercialisation of Australian solar photovoltaic (PV) innovations and scale up Australian solar PV manufacturing.”
This included:
- Round 1A: $500 million to support solar panel manufacturing in Australia, with a focus on modules, inputs to modules, and deployment systems.
- Round 1B: $50 million to fund solar PV manufacturing studies, including feasibility and engineering.
Prime Minister Albanese said Treasury’s National Interest Framework stated the high concentration of supply chains for critical energy technologies posed risks to Australia’s energy security and economic resilience.
He said these technologies were critical to Australia’s energy security through the net zero transformation.
“We know there is strong interest from business to work with the Government to make more critical energy hardware here including high tech Australian start-ups, local fabricators and material suppliers, and international investors.”
For more information and to apply for funding, visit the Solar Sunshot website.
