RACE for 2030 Limited

RACE for 2030 Limited is an industry-led cooperative research center established in 2020, with a mission to drive innovation towards a secure, affordable, and clean energy future. The organization is supported by an initial Commonwealth funding of $68.5 million, with additional resources contributed by over 120 partners across various sectors, including end-users, technology companies, governments, and leading energy researchers[2][3].

Purpose and Objectives

RACE for 2030 aims to invest $350 million over ten years to catalyze significant reductions in energy costs and carbon emissions. The organization's research efforts are organized into five programs: RACE for Business, RACE for Homes, RACE for Networks, RACE for EVs, and RACE for Change, which focuses on cross-sectoral issues. The ultimate goal is to deliver sustainable and transformative change in energy services and carbon emissions by increasing customer load flexibility, allowing greater penetration of renewables into the grid, and enhancing reliability[3].

Partnerships and Consortium

As part of its approach, RACE for 2030 involves a consortium of partners working collaboratively to drive Australia towards more reliable and affordable clean energy. This partnership includes various stakeholders from Australia's energy sector, aiming to leverage the country's competitive advantage in renewable energy. The organization's economic modeling suggests that these initiatives will generate nearly $10 billion in economic benefits for Australia over the next 15 years[5].

Activities and Projects

RACE for 2030 is involved in several projects, including efforts to accelerate electric vehicle adoption through innovative approaches like using radio to enhance public awareness[1]. They also sponsor programs such as ClimateLaunchPad, supporting cleantech entrepreneurship and innovation[1]. Additionally, the organization conducts research on home retrofits, which have shown promise in reducing energy use and increasing comfort in Australian homes[1].

Registration and Governance

RACE for 2030 Limited is registered with the Australian Charities and Not-for-profits Commission (ACNC), underscoring its commitment to transparency and governance standards[2][4]. The organization's total expenses have been reported to align with its goals of investing in research and innovation[4].

[1] https://www.racefor2030.com.au [2] https://www.acnc.gov.au/charity/charities/44c1a57e-42b0-ea11-a812-000d3ad1fbf8/profile [3] https://www.racefor2030.com.au/about-us/ [4] https://www.acnc.gov.au/charity/charities/44c1a57e-42b0-ea11-a812-000d3ad1fbf8/documents/ [5] https://consultingis.com.au/results-news/race-for-2030-crc