The proposal has 2 components to drive investment in locally owned renewable energy in regional
Australia.

Component 1 would establish a dedicated fund for community energy projects in regional Australia,
with $300 million allocated over 4 years.

Component 2 would conduct an independent review of the Australian Renewable Energy Agency
(ARENA) and Clean Energy Finance Corporation (CEFC) to identify opportunities to better support
regional community energy projects. The final report to the minister would be due by 1 November
2022 with the government response no later than 1 January 2023.

The proposal would have effect from 1 October 2022.