The Australian Renewable Energy Agency will commit $20M for the research and development of solar PVs in a bid to make it more affordable, efficient and competitive.
On May 23, the agency announced its third competitive research and development funding round. Since 2012, ARENA has committed about $109.3 million in funding to solar PV research and development projects, scholarships and fellowships, thus helping to break 14 separate solar efficiency world records.
ARENA CEO Ivor Frischknecht said that the funding will help reduce the future cost of solar PVs. He also said that Australia has some of the best solar PV researchers in the world and wants to further build what they’ve already accomplished.