The Albanese Government is committed to helping industry reduce emissions, adopt renewable energy, lower energy costs and become more energy efficient.
Through the Australian Renewable Energy Agency (ARENA), the Albanese Government is launching funding grants under the Industrial Energy Transformation Studies Program.
The $43 million in funding will be provided into two streams to support feasibility studies and engineering studies to examine opportunities for the uptake and integration of renewable energy and energy efficiency technologies in key industries.
Minister for Climate Change and Energy Chris Bowen said the program would help identify opportunities to reduce energy costs in industries and lower emissions in hard to abate sectors.
"The program will support the next generation of energy technologies to cut emissions across industry consistent with the government's emission reduction strategy," Minister Bowen said.
"The ARENA grants will help industrial emitters to find innovative ways to cut their energy demand, adopt renewable energy, save on their energy bills, and help Australia meet its emissions reduction targets."
Industry is the largest user of energy in Australia, with around half of that energy used to produce heat for industrial and other processes.
Grants will be available for between $100,000 and $500,000 for feasibility studies or $250,000 and $5 million for engineering studies.
ARENA undertook informal consultation with a number of industry associations including the Clean Energy Council, Energy Users Association of Australia, Australian Industry Group and Business Council of Australia to design the program approach.
