Geothermal, Solar

REDI Rewards Innovations in Renewable Energy Technology

The Australian Business Council for Sustainable Energy (ABCSE) congratulated the Australian government and industry for contributing to the country’s current energy needs through renewable energy technology that addresses the carbon-constrained economy of the future. Applicants will receive grants from Australian Government’s Renewable Energy Development Initiative (REDI).

Up to $23 million in grants offered by REDI will support the development, commercialization, mass production and deployment into new markets of innovative renewable energy technologies. Recipients identified in the first round of funding include the Innamincka hot fractured rock power plant being developed by Geodynamics Ltd., which generates zero emission electricity from a geothermal reservoir; a highly efficient fluid expander from Katrix that enables small scale solar thermal power and heat generation in residential and commercial buildings; a low-cost, high-pressure solar water heater developed by Solco Ltd. that is frost and corrosion resistant and suitable for export to developing countries and communities; and a reduced silicon solar photovoltaic technology by Origin Energy. The Australian sustainable energy industry accounts for $5.7 billion in annual sales including more than $400 million in exports; employment of more than 20,000 people; 22 percent of electricity generation and 36,000 GWh of displaced power from energy efficiency; and avoided greenhouse emissions of 88 million tons. The ABCSEnergy represents the broad sustainable energy industry and covers renewable energy, gas and energy efficiency — technologies and solutions that can be characterized as alternatives to meeting our growing energy needs with low or no greenhouse gas emissions.