The lack of a domestic solar manufacturing industry is placing Australia’s green energy transition at “high risk”, two local renewable energy firms have argued, urging the federal government to ramp up incentives.
Appearing before a parliamentary inquiry into developing advanced manufacturing capability on Wednesday, Sun Drive and Sun Cable flagged the need for Australia to install solar at a rate of 60GW per year to reach net zero by 2050 amid global supply chain uncertainty.
An Inflation Reduction Act-style production credit was proposed by Sun Drive who reiterated that Australia is in a global race to build energy supply chains as the United States, European Union, and India start offering attractive production incentives.
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