Environment

NEW REGULATIONS TAKE EFFECT ON ARENA’S EXPANDED SCOPE


New laws increasing the remit of the Australian Renewable Power Company (ARENA) are an actual optimistic for exciting funding in a wider vary of fresh power applied sciences.

The laws now imply that ARENA can present monetary help to precedence low emission applied sciences recognized beneath the Australian Authorities’s Know-how Funding Roadmap.

“The brand new laws permit ARENA to take a key position in driving down the price of deploying the precedence low-emission applied sciences recognized within the Annual Low Emissions Know-how Statements (LETS). This contains 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),” mentioned David Byers, Chief Government of CO2CRC.

“ARENA now helps an expanded vary of low emissions applied sciences throughout all trade. This can encourage the event, utility and scaling up of applied sciences that may strengthen trade and create jobs whereas lowering CO2 emissions,” he mentioned.

“The worth of CCUS is its versatility as a expertise. Its purposes lengthen from pure fuel processing and energy technology to metal and cement manufacturing. Producing clear hydrogen from fossil fuels paired with CCS affords essentially 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 utility throughout the economic system, are very important to attaining long-term emissions discount objectives whereas sustaining Australia’s financial resilience.

“Australia is properly 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, a number of the world’s greatest deep sedimentary basins by which to retailer carbon dioxide, an internationally recognised sources trade, and globally famend researchers. CO2CRC, Australia’s main CCUS analysis organisation, operates the Otway Worldwide Check Centre in south west Victoria, the place it has safely and securely saved and monitored carbon dioxide in quite a lot of rock formations for greater than a decade” he mentioned.

EcoNews is an impartial publication that depends on contributions from its readers.

WE’RE BUILDING A PLATFORM WITH A CLEAR FOCUS ON THE ENVIRONMENT, CULTURAL AND SOCIAL GOOD. CONTRIBUTE AND TOGETHER WE CAN MAKE AN IMPACT.

Click on Right here to Contribute

For those who worth EcoNews, however are unable to contribute by way of sponsorship or promoting we ask that you simply promote our on-line retailer The Native Store – www.nativeshop.com.au by way of your social media to help us to fund this beneficial service.

Leave a Reply

Your email address will not be published.

Back to top button