Think tank backs Future Made in Australia support for renewables

A new report from independent think tank Beyond Zero Emissions (BZE) has backed the direct support for industry being proposed for the federal government’s Future Made in Australia policy initiative.

The report – Make it here: building Australia’s clean industrial future – calls for decisive action to best harness Australia’s abundant and raw minerals, and build local innovation as we move to net zero.

Key recommendations from the report are to:

• Provide time-limited financial support to build competitive Australian cleantech manufacturing industries
• Ensure demand for Australian-made cleantech grows
• Focus cleantech manufacturing in clean industry hubs
• And develop a circular economy.

Such bold action to grow five onshore cleantech supply chains – solar, wind, batteries, heat pumps and commercial EVs – could generate up to $215 billion in revenue and create up to 53,000 additional jobs by 2035, according to the report.

BZE CEO Heidi Lee said: “From making batteries to recycling steel, the future is already being made in Australia.

“We have the skills, capabilities and key technologies needed for a zero emissions economy – let’s put them to work.”

Suggestions Canberra could support new energy manufacturing industries has brought criticism from those who see it as a return to subsidies of the past.

However BZE said smart investment in industries and regional communities would support Gladstone, QLD, Kwinana, WA, and the Hunter Valley, NSW, to diversify from a fossil fuel past and grow a clean technology future.

Lee said: “With the right support, Australia can meet global markets’ demand for refined critical minerals, and support onshore demand for cleantech products.

“Smart investment in supply chains is critical for Australia’s energy security, long-term jobs market and decarbonisation efforts.”

The report estimated:

• Solar: could create 5,820 jobs and add $21 billion to GDP by 2035
• Wind: could create $35 billion in revenue and 1,500 jobs by 2035
• Batteries: could deliver over $57 billion in GDP and 44,000 jobs in 2035
• Australian-assembled residential heat pump air conditioning systems, if grown to 20 percent of local demand, could deliver $1.8 billion in revenue each year
• And growing eBus production three fold and eTruck production five fold would meet local demand and create 105,000 jobs with businesses benefiting from $110 billion in revenue by the end of 2030.

Picture: Heidi Lee