The ACT Government has launched the new 2024 Energy Innovation Fund, which is set to support the territory’s transition to net zero by 2045.
ACT Minister for Water, Energy and Emissions Reduction, Shane Rattenbury, said that the ACT Government has secured $17 million through industry contributions to support energy innovation in the Territory over the next five years.
“Canberra is on the pathway to electrification as we transition away from the use of fossil fuel gas and towards a future with reliable, affordable and renewable energy,” Mr Rattenbury said.
“As our city makes this transition, we’re dedicated to supporting world-leading projects that will help achieve our shared vision.
“We have existing government support such as the Sustainable Household Scheme, and other rebates and incentives to support the community to transition, but at the same time, need to look into the future and ensure that we are also investing in long-term solutions for an efficient and affordable energy system for everyone.
Mr Rattenbury said that this fund supports early stage and emerging projects to develop and commercialise innovative and efficient solutions to support the ACT and the community on its energy transition.
“Since 2016, the Energy Innovation Fund, formerly known as the Renewable Energy Innovation Fund (REIF), has supported more than 20 ACT-based energy projects — bolstering research and innovation in the Territory across a broad range of new and emerging technologies.
“The new fund name reflects the new focus on broad support for energy transition innovation in the ACT across all sectors. This broader focus strengthens the fund’s ability to attract an array of innovators and investors to the ACT to support our commitment to net zero emissions by 2045.
Mr Rattenbury announced three new grants under the fund:
- Technology Demonstration Grant: Up to $10 million available over five years to support a broad range of new and emerging technologies to support the energy transition. These grants are targeted to businesses and are open year-round so applications can be completed at any time to be assessed once a quarter
- Policy Challenge Grant: Up to $3.75 million available over five years for solutions to key policy challenges the ACT faces in the transition to renewable energy. These grants are open to businesses, research institutions and think tanks
- Innovation Ecosystem Grant: Up to $3.25 million available over five years to projects that facilitate ecosystem, and business acceleration, collaboration and investment opportunities. These grants are open to business and non-profit organisations
“The ACT has developed a national and international reputation as an energy transition innovation hub, with world-leading capabilities. This new funding ensures the Territory continues to be a place of opportunity for energy transition research, innovation and investment.
“Working together, we can solve emerging energy challenges in the current climate crisis and accelerate towards a sustainable and clean future.”
An information session will be held later in March for anyone interested in applying for a grant to ask questions. Details for this session, including how to register, are on the Everyday Climate Choices website.
