Why it’s important: Hundreds of billions of dollars of foreign subsidies are luring capital from local clean energy projects
Context: Australia has an opportunity to become a “clean energy superpower” if we play our cards right
What’s next: The National Reconstruction Fund’s investment mandate is expected to require a return of two per cent to three per cent above the bond rate
The chairman of the federal government’s $15 billion “green bank” said 27 companies are investigating making batteries in Australia, a challenge to the orthodoxy that taking on the global battery giants would be a stretch for a high-cost nation.
National Reconstruction Fund chairman Martijn Wilder said Australia needed a “Marshall Plan” to decarbonise the economy fast, likening the challenge to the reconstruction of Europe after World War II.
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Ben Potter writes on energy, climate change and innovation, and has been Washington correspondent, opinion editor and companies editor. Connect with Ben on Twitter. Email Ben at bpotter@afr.com
