The federal government’s Australian Renewable Energy Agency (Arena) will invest more than $100 million across 20 research and development projects as part of its mission to further drive down the cost of solar power generation.
In what will be its largest single investment in solar PV research and development, Arena announced on Monday that it will invest up to $105.6 million across a portfolio of projects primarily being undertaken by universities across Australia.
The funding is part Arena’s 30-30-30 vision that aims to achieve 30 per cent PV module efficiency and 30 cents per watt (W) installed cost by 2030, and solar electricity below $20 per megawatt-hour.
The investment will support research aimed at accelerating the commercialisation of next-generation solar cell technology; fast-tracking ultra low-cost solar; and reducing the cost of designing, building, operating, and maintaining large-scale solar farms.
Projects to secure funding span a range of research priorities, including improving solar efficiency, cost and stability across advanced cells and modules, and innovations to improve the performance of solar farms and reduce the levelised cost of electricity (LCoE).
