Australia to invest 653 mln USD in boosting domestically-made solar panels-Xinhua

Australia to invest 653 mln USD in boosting domestically-made solar panels

Source: Xinhua| 2024-03-28 10:41:15|Editor: huaxia

SYDNEY, March 28 (Xinhua) -- Australian Prime Minister Anthony Albanese on Thursday announced an investment of 1 billion Australian dollars (about 653 million U.S. dollars) into boosting the country's solar panel manufacturing.

The Solar SunShot program is expected to help Australia capture more of the global solar manufacturing supply chain through support, including production subsidies and grants, ensuring that more solar panels are made domestically.

"Australia should not be the last link in a global supply chain built on an Australian invention," Albanese said while visiting the site of the former coal-fired Liddell Power Station in the Hunter Region.

"We have every metal and critical mineral necessary to be a central player in the net zero transformation and a proven track record as a reliable energy producer and exporter," the prime minister noted.

"We can also invest in strategic manufacturing capability, particularly in components critical to the energy and economic transition, like solar panels."

One in three Australian households has solar panels, but only 1 percent of those were manufactured in Australia.

Initiatives like Solar SunShot are believed to make sure that the regions with a long history of powering the country will continue to prosper in the net zero economy by deepening the industrial base, largely located in the regions.

With the consultation due to commence in mid-April, the Australian Renewable Energy Agency (ARENA) will work with the industry to design and deliver this initiative, along with the Australian government.

ARENA will look at the entire supply chain from ingots and wafers to cells, module assembly, and related components, including solar glass, inverters, advanced deployment technology, and solar innovation.

Chief Executive of Australia's Clean Energy Council Kane Thornton lauded the investment as "a major shot in the arm that will underpin our future as a renewable energy superpower."

"More than 3.7 million Australian homes have installed rooftop solar, with almost half a million new systems being installed every year. This commitment will mean that more of these systems will contain products made right here in Australia," said Thornton.

"The missing piece of the puzzle here is establishing a strong sovereign manufacturing capability that captures this innovation and expertise to meet more of the extraordinary demand, both here and overseas, for solar products," he added.