Coalition to divert renewable energy funding away from wind and solar

The Morrison government will continue to fund Australia’s renewable energy agency to the tune of $1.43bn over a decade but overhaul its mandate so there will be less investment in solar and wind, and more focus on investment in hydrogen, carbon capture and storage, microgrids and energy efficiency.

The baseline funding for the Australian Renewable Energy Agency (Arena) will be supplemented by a transfer of funds from the government’s emissions reduction fund and a new grants program worth $193.4m – but that represents a funding cut to the agency which was established by the Gillard government in 2011.

The significant overhaul will be unveiled by Scott Morrison on Thursday ahead of the government outlining its next steps in