Could Albanese’s bet on homegrown green industries be the boost our regions deserve?
Retrieved on:
Thursday, April 18, 2024
In 2022, America launched its mammoth Inflation Reduction Act and the CHIPS and Science Act.
Key Points:
- In 2022, America launched its mammoth Inflation Reduction Act and the CHIPS and Science Act.
- China, of course, moved first, and dominates the market for most clean energy products, from solar panels to wind turbines and batteries.
- For Australia, efforts to reshore manufacturing and stimulate new industries should focus on supporting and stimulating regions.
- If they becomes reality, these plans present a rare chance to make our regions into sustainable economic powerhouses.
Boosting the regions
- The developer could employ locals, and – if efforts to bring back manufacturing pay off – locally made components could be used wherever possible.
- This is why the proposed Future Made In Australia Act is a very real opportunity to deliver energy justice for our regions and rural communities.
- Queensland might be a first mover here by legally defining social license and requiring renewable energy developers to engage with communities.
- Read more:
Made in America: how Biden's climate package is fuelling the global drive to net zero
Could Australian-made really work?
- There’s a low chance we will go directly head-to-head with green energy giants such as China.
- For instance, we’re already one of the world’s top per capita users of solar, and our food exports are highly regarded.
- Australia has world-leading solar photovoltaic expertise, which we could tap into to create custom-designed agrivoltaics solutions, co-designed with farmers.
- The timing is good – the World Economic Forum earlier this year called for better financing and development of these types of technologies.
- Like agrivoltaics, these kinds of inventions offer double benefits – cut carbon emissions, boost farm productivity.
We should use our comparative advantages
- But what is clear is it represents a real chance for our regional and rural communities to lead the energy transition.
- And we can do it while uplifting the regional and rural communities which will play home to this transition.
Madeline Taylor is a Clean Energy Council Chloe Munro Scholar, is a Fellow at the Climate Council, and is on the Board of REAlliance,