Treasurer Jim Chalmers will hand down his third budget tonight. We are all very excited as we await a rare budget that has smart, renewable energy as a central focus.
Here are the measures we already know about before the treasurer reveals all at 7:30pm AEST.
The Future Made in Australia Act is bringing together a range of new and existing manufacturing and renewable energy programs under one umbrella, totalling in excess of $15 billion.
The Albanese government is putting serious investment towards supporting local industry and innovation, especially in this smart energy space.
A number of measures have already been announced (or re-announced), including:
- $1 billion for the Solar SunShot program to increase the number of Australian-manufactured solar panels and related equipment.
- $2 billion for its Hydrogen Headstart scheme to build the green hydrogen industry
- $470 million to construct the world’s first “fault-tolerant” quantum computer in Brisbane, matching the Queensland government’s contribution
- $840 million for the Arafura to develop its combined rare earths mine and refinery in Central Australia
- $230 million for WA lithium hopeful Liontown Resources, which is also partly owned by Gina Rinehart
- $566 million over 10 years for Geoscience Australia to create detailed maps of critical minerals under Australia’s soil and seabed
- $400 million to create Australia’s first high-purity alumina processing facility in Gladstone
- $185 million to fast-track Renascor Resources’ Siviour Graphite Project in South Australia
If you’re wondering what a Smart Energy budget looks like, read further here.
