Two Australian Organisations That Are Funding The Future Of Energy

As a key player on the global stage, Australia invests extensively in researching and developing new renewable energy solutions that are designed to improve environmental efficiency and improve energy management for both commercial and residential users alike. Here are two organisations that are helping fund the future of energy in Australia. AUSTRALIAN RENEWABLE ENERGY AGENCY (ARENA) The publicly-funded Australian Renewable Energy Agency was established in 2012 with the primary objective of growing renewable energy supplies in Australia and increasing the competitiveness of such technologies. To date, the agency has committed more than 2.5 billion towards research, development and spreading awareness of renewable solutions. Last August, it put 21.5 million towards 12 innovative renewable projects such as a promising new large-scale energy storage solution being developed by the University of Technology, Sydney, which relies on lithium-sulfur batteries. In December 2014, ARENA invited researchers and industry representatives to offer feedback on its latest R&D funding initiative. More than 20 million has been earmarked for investment in commercially-oriented renewable research projects in Australia, and ARENA has requested stakeholders to critique the various funding priorities that have been outlined to date. ARENA is currently planning to prioritise projects that reduce energy costs, effectively integrate renewable energies into existing energy networks, offer an alternative heat processing model for industries that rely on gas, or that integrate renewable energy into common materials and products. CLEAN ENERGY FINANCE CORPORATION (CEFC) The second significant renewable energy funding provider in Australia is the Clean Energy Finance Corporation. The CEFC - which is funded through the CEFC Act 2012 - lists its mission focus as "[accelerating] Australias transformation towards a more competitive economy in a carbon constrained world, by acting as a catalyst to increase investment in emissions reduction". Operating in the similar manner to a traditional finance company, the CEFC collaborates with industry innovators and co-financiers to ensure key projects in Australias clean energy sector receive the funding and support they need to survive and thrive. Despite only being in operation for one full calendar year, the CEFC has already secured more than 900 million in funding to promote a range of projects across the country. Of that figure, approximately 27 per cent has gone to wind power initiatives, while the solar industry has received 18 per cent. Other key industries of interest for the CEFC include HVAC monitoring systems (14 per cent of funding in 2013-14), industrial process improvement (10 per cent) and solar thermal (7 per cent). Agencies such as these play a pivotal role in ensuring the future of energy start-ups and innovators in Australia.

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