The Australian government has announced significant policy changes aimed at placing renewable energy at the forefront of the country's economic development. In a speech in Queensland, Prime Minister Anthony Albanese revealed plans to introduce the Future Made in Australia Act, which will prioritize renewable energy initiatives.
Albanese stated, “We will bring together in a comprehensive and co-ordinated way a whole package of new and existing initiatives to boost investment, create jobs and seize the opportunities of a future made in Australia. We want to look at every measure that will make a positive difference, investing in new industries and ensuring that workers and communities will share in the dividend.”
The proposed legislation aims to support the new Net Zero Economy Authority, providing it with the necessary tools to assist resource communities during the upcoming period of economic transition.
Kane Thornton, chief executive of the Clean Energy Council, expressed enthusiasm for the government's plans, stating, “The Prime Minister's speech marks another decisive moment for Australia's ambition to secure a place as a leading nation in the global clean energy industry. It is positive news that the Federal government has plans to back its vision with a substantial policy agenda, putting renewable energy at the centre of our economic future.”
Thornton highlighted the opportunities in hydrogen, green metals, and advanced clean energy manufacturing and assembly as areas where Australia can expand, grow, and diversify its economy while creating a skilled clean energy workforce.
He added, “The Clean Energy Council has been the leading advocate for a targeted response to the [US] Inflation Reduction Act (IRA), releasing its Power Playbook in October 2023, setting out 45 recommendations to put Australia on track to meet its target of 82 per cent renewables by 2030 and seize its opportunity as a clean energy superpower. This includes recognizing the tremendous opportunities for Australia in green hydrogen, minerals processing, and green metals production.”
