$40m clean energy investment ‘no game changer’

By Rob O'Brien

More investment is needed if Australian innovators are to become world beaters in clean energy technologies.

The recent Federal Government announcement of a $40 million investment in emerging clean energy technologies was good news, but more needed to be done, according to the clean energy industry.

“It is a good start but we will need more to deliver a generation of research and development in the next decade,” Clean Energy Council Chief Executive Matthew Warren said.

Mr Warren said one of the initiative’s strengths was that the money would be allocated in the next year, delivering an immediate kick start for clean tech innovation.

But he said the initiative on its own is too modest to be the ‘game changer’ that is needed by innovative companies.

“A comprehensive greenhouse strategy must include an effective carbon price, support for emerging technologies, efficient and effective measures to use energy more efficiently as well as large scale deploy of clean energy technologies.

“Innovation by its nature carries with it a high degree of risk. Whether it’s wave energy, geothermal or solar thermal, we should support private innovation through its early steps and stop the brain drain overseas.”

Mr Warren said Australia had some of the best clean energy resources in the world and had a real opportunity to be a global leader.

“We need to help all our new sources of renewable energy generation to reach maturity so they can make a meaningful contribution to our national 20 per cent renewable energy target (RET) by the end of the decade,” he said.

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