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Getting the best value from our projects

A targeted approach

ARENA contributes funding to renewable energy activities in accordance with our General Funding Strategy (GFS) and Investment Plan (IP). We use the principles in the GFS to identify investment priorities, which are provided in the IP along with information on our funding programs and initiatives. Current editions of the GFS and IP are available on our website at arena.gov.au.

To identify the projects that will make a critical difference, ARENA assesses funding proposals for the best fit with the investment priorities. Within each of the investment priorities, we have defined focus areas to target investments to achieve specific outcomes.

Focus areas also inform our knowledge sharing strategies and the design of the performance measures that will enable our stakeholders to assess ARENA’s impact.

ARENA’s investment priorities have evolved as our operating environment has changed, we have achieved our goals, and we have learnt from our current and planned activities (see Table 8 below).

TABLE 8: HOW ARENA'S INVESTMENT PRIORITIES HAVE EVOLVED*

PRE ARENA

2012-14

2013-16

JULY 2015

MAY 2017 - JUNE 2019

Integrating renewables and grids

Integrating renewables and grids

Delivering secure and reliable electricity

Hybridisation study

Fringe of grid and network contstrained areas

Australia Solar Institute

ACAP, ASTRI

Build next gen solar

ACAP, ASTRI

Build next gen solar

ACAP, ASTRI

Accelerating solar PV innovation

R&D

Solar flagships

Deploy utility-scale solar

Deploy utility-scale solar

Large-scale solar PV

Renewables for industrial processes

Improving energy productivity

Regional Australia's Renewables

Regional Australia's Renewables

Off grid

Remove Roadblocks to RAR

Remove Roadblocks to RAR

Exporting renewable energy

ASCI

CRI

GEN 2 Biofuels

LETDF, REDP, GDP

SHARE

SHARE

ERP, ABIR

ARP, ABIR

ERP, ABIR

Advancing commercial development of renewable energy and enabling technologies

Renewable Energy Venture Capital Fund Program

ABIR: Advanced Biofuels Investment Readiness Program ASCI: Australian Step Change Initiative CRI: Commercialisation Readiness Index ERP: Emerging Renewables Program GDP: Geothermal Drilling Program GEN 2 Biofuels: Second Generation Biofuels Program LETDF: Low Emissions Technology Demonstration Fund RAR: Regional Australia’s Renewables REDP: Renewable Energy Development Program SHARE: Supporting high-value Renewable Energy Knowledge Initiative

*ARENA's investment priorities have changed since the end of the reporting period, refer to the General Funding Strategy 2019-20 to 2020-21.

Grant funding

ARENA’s financial assistance is provided through grants. We also provide funding to the Renewable Energy Venture Capital (REVC) Fund to make equity investments.

ARENA is committed to achieving maximum impact and value from the projects it funds, using minimal capital investment. For this reason we carefully assess how much ARENA investment is required to achieve commercialisation.

Eligible technologies

Eligible technologies are indicated by ARENA’s investment priorities, which are outlined in our IP and are taken into account when assessing project proposals. ARENA may also fund exceptional projects that fall outside the investment priorities.

The number of projects funded according to each technology is provided in the Annual Performance Statement section.