Document ID: chunk:federal_register_of_legislation:F2024L01269:clause:1_3:p2
Version: federal_register_of_legislation:F2024L01269
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 2/2)
Character Range: 10357–11937

or all grant funding returned in the event that the upside scenario eventuates. In so doing, ARENA ensures that funding continues to represent value for the Australian taxpayer.

ARENA's strategic priorities

For the period of this GFS (2024-25 to 2026-27), ARENA's strategic priorities are to:
       * Unlock ultra low-cost solar (ULCS).

       * Optimise the transition to renewable electricity.

       * Commercialise renewable hydrogen.

       * Support the transition to low emissions metals.

       * Decarbonise transport.

These priorities reflect our mission – to support the global transition to net zero emissions – by lowering the cost and increasing the availability of renewable energy, growing the share of renewables in the electricity mix, supporting fuel switching, energy efficiency and electrification, becoming more flexible in when we use electricity, and supporting the development of technology solutions for hard-to-abate sectors where a pathway to lower emissions is expensive or currently not feasible.

In addition to committing baseline funding to eligible projects, ARENA will use its expertise in grant funding to deliver targeted programs funded by the Australian Government such as
       * the Future Made in Australia Innovation Fund,

       * the Battery Breakthrough Initiative,

       * the Solar Sunshot program,

       * the Industrial Transformation Stream as part of the Powering the Regions Fund,

       * Hydrogen Headstart, and

       * First Nations Community Microgrids stream as part of the Regional Microgrids Program