The Albanese government will radically expand a taxpayer-underwritten scheme to support new clean power generation and storage capacity, acknowledging it is needed to meet its objective of Australia running on 82% renewable energy by 2030.
The climate change and energy minister, Chris Bowen, will confirm the expansion of the capacity investment scheme on Thursday after officials advised the government further intervention was needed to meet the electricity target and firm the grid as ageing coal plants retire.
