|Policy Type:||Research, Development and Deployment (RD&D), Economic Instruments>Fiscal/financial incentives|
|Policy Target:||Energy Sector>Electricity Generation>Renewable, Carbon Capture Storage|
|Agency:||Department of Resources Energy and Tourism|
|Funding:||AUD 500 million|
The Fund supports industry-led projects to demonstrate low-emission technologies. These technologies must have the potential to lower Australias emissions by at least 2% in the long term at realistic uptake rates, and be commercially available by 2020 to 2030. The fund is designed to facilitate private sector investment of at least AUD1 billion, and provides a path by which industry can invest in a low-emissions future. It is aimed at supporting technologies at the commercial and demonstration stage, when required investments are large and risks remain high. In 2006, the Australian government committed AUD 60 million to develop the then-worlds-largest carbon capture and storage (CCS) project in Western Australia. While funded projects will continue, funding rounds under the programme ended in 2008.
|Related policies:||"Securing Australias Energy Future" - White Paper on Energy|
|This record is superseded by:||National Low Emissions Coal Initiative|
Last modified: Thu, 20 Nov 2014 18:05:26 CET