Budget 2024: Billions Poured into Making Australia a ‘Renewable Energy Superpower’

Several green initiatives are set to receive funding following the handing down of the 2024 Australian budget. Budget documents herald Australia’s future as a “renewable energy superpower,” with $65 million to be dedicated through the Capacity Investment Scheme by 2030. Treasurer Jim Chalmers said of the push towards net zero by 2050 that it would require “the biggest transformation in the global economy since the industrial revolution.” “Australian energy can power it,” he said in his Budget speech to Parliament on May 14. “Australian resources can build it. Australia’s regions can drive it. Australian researchers can shape it. And Australian workers can thrive in it.”...