I begin by thanking the member for Wentworth for putting forward this matter of public importance. She understands the importance of electrifying our nation, as does the Albanese government. For far too long, Australia has lagged behind the rest of the world in seizing the economic and environmental opportunities that come with cleaner and more affordable energy. In the global race for new energy jobs and investments, we have found ourselves falling behind after a decade of policy drift and funding neglect. But no more! We now have a government that wants to seize the opportunity of renewable energy.

On this side of the House, we recognise that much of the potential of renewable energy exists in regions like my electorate of Corangamite, where there is much open space and where there is capacity for wind, hydro, solar and hydrogen. Corangamite, which includes the Surf Coast, Golden Plains, the Bellarine Peninsula and parts of Geelong, has a strong manufacturing history. When you add a dynamic university like Deakin, a TAFE like the Gordon and industry that is already on the renewables journey, we are well placed for rapid success. And there are many other regions across Australia just like mine. It is government's job to unlock these opportunities and create a foundation for our regions to embrace renewables.

That's why the Albanese government is working towards low emissions and a renewable future. This is what the Albanese government is doing. Alongside targeted household rebates to ease energy bills, our 2023-24 budget has a comprehensive plan to ensure households and communities can make the most of the savings that come with smarter energy use. Through a $1.6 billion energy savings plan, households and businesses will have access to energy upgrades that will improve their energy usage and help them save on costs.

We will also rewire our national grid and invest $1.3 billion to establish the Household Energy Upgrades Fund. This fund will provide $1 billion to the Clean Energy Finance Corporation, allowing them to partner with banks and lenders to offer financial options for household energy upgrades. From installing solar panels to modernising appliances, we will empower more than 110,000 households to lower their bills and make their homes more energy efficient.

But our vision goes beyond energy savings. We are determined to become a world-leading producer of green hydrogen, which is a renewable resource with incredible potential. Renewable hydrogen is crucial to manufacturing green metals and other products needed to transition to net zero by 2050. We're investing $2 billion in Hydrogen Headstart to provide vital financial support for large-scale renewable hydrogen projects through a competitive production contract process. These projects will see Australia achieve a gigawatt of capacity by 2030, creating more jobs now, more jobs for the future, and a restored national focus on new energy sources.

We will also provide funding of $38.2 million for a guarantee of origin scheme certifying renewable energy and ensuring the tracking and verification of emissions for clean energy products. This funding is critical to enhancing our reputation as an attractive investment destination, accelerating the growth of our hydrogen energy industry and opening doors to future markets.

But we won't stop there. The government will provide an extra $5.6 million to leverage our nation's strengths in renewable energy, including critical minerals and our highly skilled workforce. By capitalising on these advantages, we will accelerate the development of our clean energy industries.

We have great potential. Our nation is ready for the task and so is our government. With the support of the community and industry, we will become a visionary renewable powerhouse.