According to Innovation Minister Senator Kim Carr, the Clean Energy Future program builds upon the work advisory committees have undertaken over the past three years.
“The low carbon economy is a chance to rejuvenate Australian manufacturing and generate new Australian jobs. It will complement other important reforms like the new R&D Tax Credit.”
“The $1.2 billion Clean Technology Program, for example, will support manufacturers to identify and implement technologies that will improve their energy efficiency,” he added.
Programs such as the Clean Technology Focus for Supply Chains and the Steel Transformation Plan will support jobs and ensure Australian industry remains strong by delivering incentives to invest in clean energy and efficiency, Carr said.
“Manufacturers will respond to the carbon price by improving their production and resource efficiency and by innovating to develop low carbon products and technologies to maintain competitiveness in a changing global environment.”
Apart from programs focused on steel manufacturing and the food and foundry sectors, the program will see manufacturing receive transitional adjustment assistance totalling $800 million over seven years.
Additionally, the $200 million five year Clean Technology Innovation Program will support research, development and commercialisation of clean technology products, processes and services to support innovation in industry.