GOVERNMENT ANNOUNCES MAJOR SOLAR PANEL MANUFACTURING COMMITMENT
* Prime Minister Anthony Albanese has announced a $1 billion commitment to support the manufacture of solar panels in Australia
* Australia has one of the highest per capital rates of solar panel rooftop uptake in the world but only one per cent of the world's panels are produced at home
* The announcement is part of an attempt to take back a share of the global solar panel manufacturing and supply chain
* Subsidies and grants will target regions historically aligned with fossil fuel production and mining
* It is expected to help these areas transition to renewable energy production as the economy shifts towards net-zero goals
* The government must reduce greenhouse gas emissions to 43 per cent below 2005 levels by the end of the decade, before completely negating its emissions - known as reaching net-zero - by 2050.
Australian Associated Press
