In a bid to provide an impetus to the large-scale solar projects sector, the Clean Energy Finance Corporation (CEFC) and the Australian Renewable Energy Agency (ARENA) have introduced complimentary investment and funding programs. Project applications are around 2GW from across the globe, from companies seeking to develop utility scale solar projects. Under the AU$250 program launched, the project sizes range from 15MW to 200MW. The maximum applications have come from the state of Queensland with around 980MW of projects – followed by projects NSW, South Australia, Victoria and Western Australia.
The CEFC program, in a bid to help projects overcome financial roadblocks, will provide capital investment. ARENA is also running a complimentary program that is set to provide grants. The program has around AU$100 million set aside for the utility scale solar scheme. They have reportedly received funding applications worth about AU$1.1 billion for projects that are worth more than AU$5.5 billion. Bringing to fruition all the projects will add 2.8GW capacity of solar power systems.
Even if all the projects do not reach completion, these proposals and interest are a step in the right direction. They will take Australia towards meeting even more of its energy needs through solar power. In addition, technology is improving rapidly, solar power companies are gaining ground and experience in this area and helping the country’s citizen become self-sufficient in meeting their power needs.