Treasury says there is a “strong case” for green hydrogen and green metals have “significant potential”. Making solar panels and batteries is another story.
Treasury has debunked Prime Minister Anthony Albanese’s push to create solar panel and battery manufacturing industries in Australia, strongly indicating the billions of dollars needed would be better spent elsewhere.
The advice, contained in a document outlining the rationale behind the government’s Future Made in Australia policy, is at odds with Mr Albanese’s $1 billion pledge to boost local solar manufacturing through a “solar sunshot” program.“We can’t afford to be vulnerable as well as an economy by not making things here, by being dependent just on what happens offshore,” he said last month following the announcement.
But when it came to solar panel and battery manufacturing, the central agency was less than enthusiastic, and even suggested buying cheaper overseas products would “strengthen Australia’s potential to become a renewable energy superpower”. “Strong trade partnerships, such as those in place with jurisdictions such as the United States and India, can be used to diversify Australia’s supply and reduce supply chain risks.”
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