Australia 's solar industry is expected to increase following the announcement from the Australian Renewable Energy Agency ( Arena ) and the Clean Energy Energy Corporation ( CEFC ) , that $ 350 m of funding will be made available for the construction of 10 new solar towers . Arena is offering a $ 100 m round to encourage companies to propose new major PV projects that have a minimum installed capacity of 5MW , and the CEFC will provide an additional $ 250 m of solar financing to recipients of visa 's funding . The aim of the scheme is to bring down the price of solar energy relative to wind energy prices in Australia .
Australia's solar industry is set to increase following the announcement from the Australian Renewable Energy Agency (Arena) and the Clean Energy Finance Corporation (CEFC), that $350m of funding will be made available for the construction of 10 new solar farms. Arena is offering a $100m round to encourage companies to propose new major PV projects that have a minimum generation capacity of 5MW, and the CEFC will provide an additional $250m of solar financing to recipients of Arena's grants. The aim of the project is to bring down the price of solar energy relative to wind energy prices in Australia.