$60M Funding Round Targets Next-Gen Solar Innovation
The Australian Renewable Energy Agency (ARENA) has launched a new $60 million funding round for research and development (R&D) to find innovative solutions that make ultra low-cost solar a reality.
ARENA CEO Darren Miller said solar photovoltaic (PV) technology continues to evolve rapidly and remains the backbone of the country’s clean energy transition, highlighting the importance of continued investment.
“Demand for renewable electricity is expected to increase significantly as Australia moves towards net zero. Ultra low-cost solar PV is a critical source of electricity to meet this demand and will be a crucial enabler of the energy transition.”
“ARENA has been at the forefront of investing in solar innovation since the Agency was established 13 years ago and has materially shifted the renewable energy landscape in Australia.”
“Our ultra low-cost vision recognises that solar must be cheaper still to support and enable the renewable energy transition, especially if we are to decarbonise heavy industry and create new export industries. This funding round is seeking the pioneering innovation Australia is so well known for in solar PV to achieve that vision.”
The $60 million funding round reflects ARENA’s increased ambition for the next generation of innovation in solar PV through six focus areas across two streams:
To date, ARENA has provided over $388 million to solar PV R&D and an additional $104 million to support the Australian Centre for Advanced Photovoltaics (ACAP).
This new funding round provides an opportunity for Australia’s leading universities, research groups, start-ups and entrepreneurs to make significant breakthroughs in achieving ARENA’s ultra low-cost solar vision of reducing the installed cost of solar to 30 cents per watt and bringing the levelised cost of electricity (LCOE) below $20 per megawatt hour by 2030.
In the last decade, solar R&D in Australia has led to major breakthroughs in photovoltaics that have helped shape the global solar industry; driving down the cost of solar power, strengthening Australia’s leadership in solar research and supporting the growth of a vibrant renewable energy sector.
ARENA’s previous support has enabled researchers to push the limits of solar cell efficiency by exploring advanced characterisation techniques, enhancing solar cell and module reliability and stability, applying artificial intelligence and machine learning to better monitor and optimise PV system performance, and pioneering recycling solutions to reduce waste and support a circular solar economy.
Their work has also enabled the development of next-generation technologies, including tandem solar cells, lightweight flexible panels and innovative manufacturing processes, unlocking new possibilities for solar energy.
https://arena.gov.au/news/new-60-million-funding-round-to-uncover-next-generation-of-solar-innovation/