World : Australia to Invest USD 18 Billion in Low Emission Technologies over the Next Decade

The government of Australia is expected to invest USD 18 billion through new investments in low emission technologies over the next ten years to reduce carbon emissions. The new plan requires reducing the production rate of hydrogen less than USD 2/kilogram, lower the cost of a long duration battery storage system under USD 100/MWh to provide a reliable supply of low-cost sustainable energy. The government will establish a Technology Investment Framework to set its investment preference in new technologies. The government will invest around USD 1.9 billion in a new energy technology package and will also set up Australia’s first regional hydrogen export hub.

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Smart Grid Bulletin October 2020

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