Future Made in Australia: $200 million boost for renewable energy technology manufacturing
Future Made in Australia: $200 million boost for renewable energy technology manufacturing
Australia’s transition to a net‑zero economy depends on accelerating the development, commercialisation and local manufacturing of renewable energy technologies. To support this, the Australian Renewable Energy Agency (ARENA) has launched a new funding opportunity under the Future Made in Australia Innovation Fund, with an initial $200 million dedicated to advancing Renewable Energy Technology Manufacturing (RETM).
The RETM stream is available now, and ongoing until funding is exhausted or ARENA closes the program. This stream offers significant backing for businesses aiming to innovate, scale and commercialise clean‑energy technology manufacturing in Australia.
About the stream
ARENA’s RETM Priority focuses on closing critical gaps in Australia’s renewable energy supply chains and strengthening domestic capability across key technologies.
The fund supports projects that deliver one or more of the following outcomes:
- Product innovation and advanced manufacturing to accelerate Australia’s net‑zero transition
- Expansion of domestic manufacturing capacity for renewable energy technologies considered essential to Australia’s clean‑energy future
- Development of enabling technology capabilities that improve emissions reduction opportunities
- Increased supply‑chain resilience, reducing exposure to offshore constraints.
ARENA may also consider technologies outside the priority list on a case‑by‑case basis. As with other programs, there will continue to be a strong emphasis on project partner relationships and their willingness to commit cash to proposed grant activities. While in-kind contributions are accepted and can form a key part of matched funding, cash is always preferred.
The minimum funding threshold is anticipated to be $250,000, with no upper limit. Applications may be submitted at any time while the fund remains open.
What projects funding supports
Projects will be assessed under two program streams, giving flexibility for both early‑stage innovators and organisations ready to scale:
- Innovation stream - for prototyping, pilots, pre‑commercial demonstrations and feasibility or engineering studies
- Deployment stream - for large‑scale demonstration, technology scale‑up and near‑commercial deployment.
Who should consider applying
This opportunity is suited to businesses operating in and looking to scale renewable energy manufacturing, including:
- Hydrogen
- Energy storage and thermal energy storage (TES)
- Transport
- Transmission and distribution infrastructure.
The fund is also relevant for organisations seeking to localise manufacturing previously reliant on international supply chains, addressing one of the most significant barriers to Australia’s clean‑energy transition.
BDO comment
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A strong emphasis on manufacturing for net‑zero outcomes
ARENA’s key focus is to reduce emissions through manufacturing, therefore they will prioritise manufacturing readiness and renewable‑energy‑related enabling technologies.
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Broad but policy‑directed fund
Guidelines and policy areas exist, but ARENA’s scope is still intentionally wide. As a newly introduced stream, this means they are still determining the breadth of project types. While there are particular objectives to achieve of the fund across the guidelines and policy areas, the assessment criteria are not overly prescriptive. ARENA are open to a range of ideas, and applicants should take advantage of this flexibility.
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Short-term projects delivering lasting impact
There is no defined project completion period for the RETM Priority, however ARENA would prefer shorter‑term projects that can be deployed reasonably fast, are practical and will achieve results in the following one to two years to observe a true impact on Australia’s net-zero goals.
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Early engagement is critical
Applicants should start the process as early as possible, as policy is expected to tighten in the near-term. ARENA’s model also encourages applicants to have initial conversations by offering an opportunity for early-stage endorsement, which involves a high-level pitch of the project to an ARENA representative, steering away from time intensive expressions of interest. This is designed to streamline the process, promising quick assessment timelines with applications reviewed in one month. Applicants can also receive timely feedback if a project does not meet the criteria.
How BDO can help
BDO’s R&D and government incentives team have deep expertise in the renewable energy and manufacturing sectors. Our team supports clients across the full lifecycle of government‑funded innovation, helping you interpret program guidelines and prepare high‑quality applications. Contact us for support.
