As reflected in the 2019–20 CEFC Corporate Plan, the CEFC strategy seeks to support the delivery of Australian Government emissions reduction priorities. In working with private sector investors and project proponents, we seek to address the main sources of carbon emissions in the economy.
In catalysing investment in clean energy opportunities across the economy, we focus on enabling technologies that will contribute to the reliability and security of the electricity system. We also focus on new and emerging technologies that can support lower emissions and increased productivity.
The CEFC strategy seeks to contribute to the delivery of Australia’s commitments under the Paris Agreement, in “… holding the increase in global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels”.
Our investment activities are informed by Australian Government policy and Investment Mandate Directions to the CEFC. We also draw on expert external analysis of relevant market trends, from Government, regulators and industry.
Which seeks to bring a strategic and system-wide view to future investments in low emissions technologies. These include energy storage to assist cost effective, reliable low emission electricity, hydrogen, carbon capture and storage, soil carbon sequestration, biofuels, resources and energy exports to reduce emissions while strengthening our economy.
Developed by the Department of Industry, Science, Energy and Resources (DISER).
Which suggests (1) distributed energy will provide as much as 22 per cent of total underlying annual energy consumption by 2040, (2) with more than 26 gigawatts of additional renewable energy required to replace coal-fired generation and (3) a further 6-19 gigawatts of new dispatchable resources required in the form of utility scale pumped hydro, fast response gas-fired generation, battery storage, demand response and virtual power plants.
Developed by the Australian Energy Market Operator (AEMO).
A guide for Australian decision makers on the priority technologies, deployment pathways and benchmarks required to meet the Paris Agreement goals. The analysis shows how Australia can reduce emissions across the economy by (1) immediately accelerating the deployment of mature and demonstrated zero emissions or best available technologies and (2) rapidly developing and commercialising emerging zero emissions technologies in harder to abate sectors.
Developed by ClimateWorks Australia with input from the CEFC, among others.