The Albanese government will dedicate a further $1 billion in subsidies, grants and support to the domestic production of solar panels, a move criticised by the opposition as “an insane economic decision”.
“Historically, Australia has been good at going from the mining pit to port, and long may this continue. But the Australian government will also invest in the path from pit to panels and capture more value for our economy and workforce.” Expressing concern over the dominance of solar panel production by China, Mr Albanese also acknowledged past missed opportunities and vowed not to repeat them.
The major pre-budget announcement aims to address this gap by investing in local production and encouraging clean energy infrastructure in regional areas. The $1 billion federal investment adds to the more than $40 billion already committed by the government to make Australia a “renewable energy superpower”.
Senator Matt Canavan attended The National Rally Against Reckless Renewables at Parliament House in Canberra in February 2024. Picture: NCA NewsWire / Martin Ollman
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