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Explore how ARENA funding is revolutionizing Australia's industrial sector by fostering the adoption of clean energy solutions.
The future of the industrial manufacturing sector in Australia stands at a crossroads with urgent action need to decarbonise and mitigate increasing cost of traditional energy sources.
The Urgency for Clean Energy in Industrial Manufacturing
Industrial manufacturing stands as one of the most energy-intensive sectors, historically relying on fossil fuels that contribute to greenhouse gas emissions. With the urgent need to reduce carbon emissions and the increasing cost of traditional energy sources eroding profitability, it's clear that a change is needed.
Over the next five to ten years, there's a significant push for the industry to electrify its operations. This shift will not only help in fighting climate change but also ensure that Australian manufacturing remains competitive on the global stage.
Electrification Supported with Renewable Energy
Electrification refers to replacing processes that use fossil fuels with those that use electricity. For manufacturers, this means using electric machinery and tools instead of those powered by natural gas or oil achieving reduced carbon footprint, lower operating cost and increase system efficiency.
Solar and battery power are key for industrial electrification facilitating decarbonisation of processes and accelerating toward Net Zero targets. Beam has been a pivotal support to many of our industrial clients undertaking electrification projects scoping solar and battery options and also helping them secure government funding to ease the financial burden of the transition.
What Government Funding is Available?
ARENA offers various funding opportunities (up to $15million per project) aimed at clean energy technologies targeting reduction of scope 1 & 2 emissions. These funds are intended to bridge the gap between concept and commercialization, enabling manufacturers to pilot and scale up projects that might otherwise be deemed too risky or costly.
- $400million is available to support reduction of emissions at existing National Greenhouse Energy Reporting (NGER) facilities in regional Australia.
- $40million is available to support reduction of emissions related to Industrial Activity across Australia.
The Australian renewable energy landscape has recently received a much-needed boost with the announcement of expanded funding and new budget programs in the 2024-25 Federal Budget with an allocated additional $1.9billion boost to ARENAs baseline funding.
Projects supported include renewable energy technologies, energy efficiency technologies and electrification technologies that will result in a significant reduction in scope 1 and/or scope 2 emissions or improve the energy efficiency of an industrial process or processes.
How to Apply for ARENA Funding with Beam
Beams has assisted multiple industrial clients secure funding for electrification projects nationally. ARENA will co-fund project feasibility assessment as well as project implementation. The application process is divided over two phases below:
- Expression of Interest (EOI): Applicants begin by submitting an EOI, detailing their project proposal and how it aligns with ARENA's objectives and funding priorities.
- Full Application: If the EOI is successful, applicants are invited to submit a full application. This comprehensive document includes detailed project information, budgets, timelines, and risk assessments.
If you would like assistance in developing an EOI and Full Application contact us directly HERE or more information can be found directly on ARENA's website, where resources and assistance are readily available for potential applicants HERE.