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The Australian government will invest A$1 billion to support domestic production of solar panels to reduce dependence on Chinese imports.
The Solar Sunshot program will provide subsidies and grants to expand solar manufacturing share. Despite Australia’s high penetration of rooftop solar, local manufacturing accounts for only 1%, and the new plan aims to change that.
The Prime Minister said Australia should not just be the end of global supply chains, but a central player in the net zero transition. This move is similar to that of the United States, India and other countries, but it may still be difficult to squeeze out Chinese manufacturers. China currently provides more than 90% of Australia’s panels.
AGP signs agreement with SunDrive to explore developing solar manufacturing facilities at shuttered coal power plants. But global solar supply faces a crisis of oversupply.
(Source: Bloomberg Image source: freepik)
