The Albanese government will funnel $500 million into the commercialisation of clean energy technologies through a rebadged version of a $1 billion fund first proposed by the former Coalition government.
But the new fund will not be available for carbon capture and storage (CCS) and nuclear technologies, in line with legislation governing the Clean Energy Finance Corporation (CEFC) which will administer the fund.
Legislation to create the Powering Australia Technology Fund, as well as implement the government’s Rewiring the Nation election commitment, was introduced to Parliament by Assistant Treasurer Stephen Jones on Wednesday morning.
The omnibus Treasury Laws Amendment (2022 Measures No. 4) Bill will also enact the video game development tax offset scheme and $1.5 billion in SME tax breaks for tech upgrades and skills promised in the March Budget.
The…