PM Albanese to announce $1bn program to build more solar in Australia

The Prime Minister will pledge $1bn to significantly bolster a key industry needed to transform the country to net-zero.

Prime Minister Anthony Albanese and Energy Minister Chris Bowen will announce a $1bn project to bolster Australia’s solar industry. Picture: NCA NewsWire / Gary Ramage

A significant $1bn investment to kickstart a new solar power program will take Australia “from pit to panels” and cement the country as a clean energy powerhouse while driving down energy bills, the Prime Minister will announce on Thursday.

Speaking from the former coal-fired Liddell power station in the NSW Hunter Valley, Anthony Albanese will reflect on Australia’s historic role in the development of the solar panel and his intention for the country to build more of them as part of the transition to net-zero.

About a third of Australian households have solar, but only one per cent of solar panels are made in Australia.

The government’s Solar SunShot program, a major pre-budget announcement, comes after legislation was introduced on Wednesday to establish the Net Zero Economy Authority to “catalyse investment” in a clean energy future made in the regions.

A $1bn investment will help build more solar panels in Australia. Picture: NCA NewsWire / Luis Enrique Ascui

Mr Albanese said Australia “should not be the last link in a global supply chain built on an Australian invention”.

“I want a future made in Australia. I want a future made in our regions. Places like the Hunter that have powered our nation for more than a century will power our future,” he said.

“We have every metal and critical mineral necessary to be a central player in the net zero transformation, and a proven track record as a reliable energy producer and exporter.

“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.”

Prime Minister Anthony Albanese and Climate Change and Energy Minister Chris Bowen will make the announcement from the Hunter on Thursday. Picture: NCA NewsWire / Gary Ramage

Climate Change and Energy Minister Chris Bowen said the announcement was about “creating Australian jobs to help manufacture” key technology.

“We know that the world’s climate emergency is Australia’s jobs opportunity, and $1bn to support Australian manufacturing in solar technology will help seize that opportunity,” he said.

Alongside Solar SunShot, the NSW government is delivering the NSW Net Zero manufacturing initiative, with the first round of $275m now open to open up the transformation of the state’s energy grid to the state.

NSW Climate Change and Energy Minister Penny Sharpe said the government’s fresh announcement would deliver “long term energy bill savings” and strengthen the state’s manufacturing sector.

“It’s great to be able to align NSW and Commonwealth funding to support clean energy manufacturing, with this fund bolstering our $275m investment in Net Zero Manufacturing that’s currently open for NSW innovators and businesses,” she said.