New rules increasing the remit of the Australian Renewable Power Company (ARENA) are an actual constructive for exciting funding in a wider vary of fresh power applied sciences.
The rules now imply that ARENA can present monetary assist to precedence low emission applied sciences recognized beneath the Australian Authorities’s Expertise Funding Roadmap.
“The brand new rules permit ARENA to take a key function in driving down the price of deploying the precedence low-emission applied sciences recognized within the Annual Low Emissions Expertise Statements (LETS). This consists of clear hydrogen (hydrogen whether or not produced utilizing renewable power or fossil fuels mixed with carbon seize and storage) and Carbon Seize Utilisation and Storage (CCUS),” stated David Byers, Chief Government of CO2CRC.
“ARENA now helps an expanded vary of low emissions applied sciences throughout all business. It will encourage the event, software and scaling up of applied sciences that may strengthen business and create jobs whereas decreasing CO2 emissions,” he stated.
“The worth of CCUS is its versatility as a expertise. Its purposes prolong from pure fuel processing and energy technology to metal and cement manufacturing. Producing clear hydrogen from fossil fuels paired with CCS presents probably the most cost-effective, dependable and versatile pathway to large-scale hydrogen manufacturing. With round two-thirds of emissions in Australia coming from exterior the facility technology sector, applied sciences like CCUS with broad software throughout the financial system, are very important to attaining long-term emissions discount targets whereas sustaining Australia’s financial resilience.
“Australia is effectively positioned to be on the forefront of the worldwide scale-up of CCUS applied sciences. It has prepared entry to the newest CCUS applied sciences and experience, among the world’s greatest deep sedimentary basins by which to retailer carbon dioxide, an internationally recognised sources business, and globally famend researchers. CO2CRC, Australia’s main CCUS analysis organisation, operates the Otway Worldwide Take a look at Centre in south west Victoria, the place it has safely and securely saved and monitored carbon dioxide in a wide range of rock formations for greater than a decade” he stated.
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