details). Encouraging innovation in clean energy Innovation plays a pivotal role in reducing carbon pollution... The transformation of Australia's energy sector towards clean energy sources will unfold over the coming decades. The carbon price will play a major role, creating powerful commercial incentives to avoid traditional high?pollution solutions and to adopt low?pollution alternatives. However, given the scale of the transformation and the imperative to change, additional measures to support innovation and investment in clean energy are required. ...which is why the Government is providing substantial new funding to promote innovation in clean energy, including a new $10 billion Clean Energy Finance Corporation. The Government will provide significant levels of financial support for innovation in clean energy technologies. A new Australian Renewable Energy Agency will administer $3.2 billion in Government support for research and development, demonstration and commercialisation of renewable energy. The Renewable Energy Target, combined with other elements of the Government's plan, including the carbon price, will drive $20 billion of investment in large-scale renewable energy by 2020 in today's dollars. These measures, and a range of other initiatives to promote innovation, are detailed in Chapter 6. Supporting energy markets The Government will underpin a secure energy market transition through an Energy Security Fund... The Government will implement measures to underpin a successful energy market transition and maintain secure energy supplies. These measures will supplement the carbon price and clean energy policies. An Energy Security Fund will be established to ensure there is a smooth transition which preserves energy security.