Tuesday 12/5/2009 Page: 4
A $1 billion-plus investment in solar and other clean energy will spearhead Budget plans to make Australia a global leader in "green" technology. Treasurer Wayne Swan will tonight commit the nation to technology to cut high-polluting coal emissions. Hundreds of millions will go to develop cutting-edge solar projects with the Government hoping Australia can become a world leader, while millions will help develop high-tech "smart grids" in which energy is delivered using digital networks.But the economic meltdown has forced the Rudd Government to slash money expected by elite universities. Mr Swan has also been forced to dramatically scale back a promised overhaul of funding for business research and innovation. The $1 billion-plus investment in clean and renewable technology will focus on solar, clean coal solutions and "smart grid" technology.
It follows last week's backflip on the timing of an emissions trading scheme after criticism from business. But Prime Minister Kevin Rudd will use the $1 billion-plus move to say his Government wants Australia at the fore of global "green" technology. US President Barack Obama is also investing heavily in clean energy.
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