| May 14, 2024

This Budget Changes Australia – Smart Energy Council response to Federal Budget

The Smart Energy Council strongly welcomes the comprehensive suite of renewable energy, green hydrogen and critical minerals policies in the Federal Budget that will fuel a Future Made in Australia. 

Chief Executive of the Smart Energy Council John Grimes said “This budget changes Australia’s future.”

“The Budget marks the start of Australia’s next industrial revolution, one that’s low in pollution and high in jobs. It’s good for the planet, and smart for the economy.”

“This charts the pathway to Australia’s prosperity and comparative advantage.”

“Without this pivot, Australia was headed to be a Kodak economy.”

“We congratulate the Albanese Government for giving businesses, manufacturers, workers and industries the confidence they need to invest in a decarbonised Australia,” Mr Grimes said.

“A Future Made in Australia means economic and employment opportunities right across the nation, especially regional Australia.”

The Albanese Government has responded to calls from the Smart Energy Council and Australia’s renewables and critical minerals member companies, unions and climate organisations; production tax credits and production credits for critical minerals value adding, renewable hydrogen and ammonia, battery manufacturing and solar panel manufacturing.”

“This is a budget our businesses can bank on as they build Australia’s smart energy future. With the incentives announced tonight, our smart energy  industries will stay in Australia, rather than get lured offshore. ”

The Smart Energy Council welcomes the comprehensive suite of policies announced tonight including:

  • $1 billion for solar manufacturing 
  • $500 million for battery manufacturing
  • +$160 million for approvals, community consultation & social licence
  • $3.2 billion for commercialisation of technologies
  • $7 billion for critical minerals production
  • $6.7 billion for hydrogen production 
  • $55.6 million for building women’s careers 
  • $91 million to build the workforce 

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