Summary of proposal
Party
Australian Greens
Policy Topic
Energy
Portfolio
Environment and Energy
- Component 1 – Renew Australia Corporation
- Element 1: Establish the Renew Australia Corporation (the Corporation) from 1 July 2019. The Corporation would be funded to deliver Components 3, 4, 5 and 6 of this proposal.
- Element 2: Provide the Corporation $40 million in 2019-20, indexed by the consumer price index (CPI) to 2025-26 and then held constant at that level on an ongoing basis, to manage the transition to a clean energy system.
- Component 2 – Renewable energy zones
- Element 1: Provide $40 million spread evenly from 2019-20 to 2021-22 to the Australian Energy Market Operator to support the implementation of a new regulatory process for establishing renewable energy zones.
- Element 2: Provide a $6,000 million equity injection from the Commonwealth Government to a public non-financial corporation outside of the general government sector for a Grid Transformation Fund. The equity would be used to support transmission connections to renewable energy zones and be spread evenly over ten years from 2019-20 to 2028-29.
- Assets built through the Grid Transformation Fund would generate sufficient revenue to meet its operating and capital financing costs and, in the longer term, deliver a rate of return of at least the rate of inflation on the initial equity injection.
- Component 3 – Community renewables
- Element 1: Provide $25 million over two years from 2019-20 to 2020-21 for regional and community hubs across the country.
- The departmental funding provided under Component 1 to administer this element would be in addition to this capped amount.
- Element 2: Provide $100 million over four years from 2019-20 to 2022-23 for a ‘solar gardens’ scheme to assist renters and apartment dwellers to invest in solar panels in locations other than their dwelling.
- The departmental funding provided under Component 1 to administer this element would be in addition to this capped amount.
- Element 1: Provide $25 million over two years from 2019-20 to 2020-21 for regional and community hubs across the country.
- Component 4 – Solar Households Scheme
- Provide $1,200 million over five years from 2019-20 to 2023-24 for a Solar Households Scheme.
- The departmental funding provided under Component 1 to administer this element would be in addition to this capped amount.
- Provide $1,200 million over five years from 2019-20 to 2023-24 for a Solar Households Scheme.
- Component 5 – Clean technology
- Element 1: Re-establish the Clean Technology Innovation Program, with $200 million spread over four years from 2019-20 to 2022-23.
- This capped amount includes departmental funding provided under Component 1.
- Element 2: Provide $200 million over four years from 2019-20 to 2022-23 to establish a Clean Energy Small Business Fund. This capped amount includes departmental funding provided under Component 1.
- Small-to-medium-sized enterprises would be eligible to apply for up to $10,000 to cover the cost of investment in assets or capital works that reduce fossil fuel use or improve energy efficiency, or to switch from gas to clean energy. This fund will operate in conjunction with the instant asset tax write-off, as businesses who receive the instant asset write-off will also be able to receive money from the Clean Energy Small Business Fund.
- Element 3: Provide $50 million spread evenly over two years from 2019-20 to 2020-21 for a community education campaign targeted at households, to encourage use of split-system air-conditioners instead of gas.
- This capped amount includes departmental funding provided under Component 1.
- Element 1: Re-establish the Clean Technology Innovation Program, with $200 million spread over four years from 2019-20 to 2022-23.
- Component 6 – Household Solar Storage Scheme
- Element 1: Storage grants for households
- Provide $550 million each year from 2019-20 to 2022-23, with $137.5 million made available for storage grant funding each quarter.
- The departmental funding provided under Component 1 to administer this element would be in addition to this capped amount.
- The maximum grant per household would taper down annually, from up to $7,000 per household in 2019-20, to $5,950 per household in 2020-21, $5,355 per household in 2021-22, and $4,820 per household in 2022-23, for non-low-income households.
- Each year, $55 million would be set aside for low-income households, who would be eligible to receive double the grant specified above. The income threshold for low-income households would be determined prior to the commencement of the program.
- The Household Solar Storage Scheme would top up any state-based grants to households.
- To be eligible for the Scheme, households would need to use qualified system providers installing battery systems that meet a set of minimum technical requirements.
- The Scheme would commence on 1 July 2019 and conclude on 30 June 2023.
- Element 2: Fund a review to be conducted half way through the operation of the Household Solar Storage Scheme to assess the size of the grant, taking into account trends in battery prices in each state, the resulting payback periods and the performance of the Scheme.
- Element 1: Storage grants for households
- Component 7 – Grid-scale storage
- Provide $2,200 million in funding over four years from 1 January 2020 to establish a Large-Scale Energy Storage Scheme to build storage and infrastructure at the grid level. The Scheme would be managed by the Australian Energy Market Operator and the Clean Energy Regulator.