Technology Investment Roadmap under review

The federal government is calling for submissions to inform development of the Low Emissions Technology Statement 2022.

The Low Emissions Technology Statement (LETS) is an annual update to the Technology Investment Roadmap – the Australian government’s technology-led approach to reducing emissions. It is the cornerstone of Australia’s Long-Term Emissions Reduction Plan, which the government says will allow the country to achieve net zero emissions by 2050.

The government released LETS 2021 on November 2, 2021. It is the second statement following the first LETS release in 2020.

That statement confirmed that the government would continue to focus its original five “priority technologies: clean hydrogen, energy storage, low-emissions materials, carbon capture and storage (CCS), and soil carbon. It also added one more priority technology: ultra-low-cost solar.

Also noted in LETS 2021 is the enabling infrastructure of electric vehicle charging and refuelling infrastructure, smart charging for optimised grid integration, and the digital grid.

Finally, LETS 2021 included a list of “emerging technologies” that would be monitored for potential inclusion in the priority technologies. Interestingly, this covers energy efficiency, heat pumps, and buildings (including the use of new refrigerants) – technologies that many consider as proven rather than emerging, and surer options than the technologies where the government is placing its bets.

“Our goal is to drive down the cost of a portfolio of low-emissions technologies,” says Minister for Industry, Energy and Emissions Reduction, Angus Taylor, “because getting them to commercial parity with existing approaches will make them more attractive to consumers at home and abroad. Our approach is technology not taxes, because it’s the only way to reduce emissions without imposing new costs on households or businesses, or raising the price of existing energy sources.”

The government is now seeking input for LETS 2022. Comments can be made through the consultation page until February 6, 2022.