Australian Government Announces $100 Million Australian Solar Institute. Stanford Launches US$100 Million Institute Focusing On Energy Issues. (January 31, 2009)

The Australian government has made a commitment to develop cost-effective low-emission energy technologies and has set a renewable energy target of 20% by 2020.

Last year it established the $500 million Renewable Energy Fund and the $150 million Energy Innovation Fund, $100 million of which is allocated to the establishment of the Australian Solar Institute (ASI) with national headquarters to be in Newcastle, New South Wales. In announcing the ASI the government noted the "inadequate funding for Australian research institutions and the lure of well funded overseas organisations has contributed to Australia losing solar research expertise throughout the past decade" and said the Institute "will provide much needed support for the Australian solar community, helping to retain Australian solar expertise and develop the next generation of Australian solar researchers. The Institute will foster greater collaboration between researchers in universities, research institutions, and industry and help forge strong links with peak overseas research organisations".

It could be propitious timing. On January 12 Stanford University's President, John Hennessy, announced the launching of a US$100 (A$157) million initiative to tackle energy issues.

According to Professor Hennessy the US$100 million in new funds will enable the hiring of additional faculty and support new graduate students, in addition to the

Kat Taylor and Thomas Steyer talk to Prof of Petroleum Engineering Lynn Orr at the launch

 more than US$30 million in yearly funding now spent on energy research by the university.

To be named the Precourt Institute it "is being brought to life through the generosity of donors". The founding donor, Jay Precourt, who holds bachelor's and master's degrees in petroleum engineering from Stanford and an MBA from Harvard, said he was drawn to the project for a number of reasons, including the chance to help reduce carbon emissions and their negative effects on global climate. But he is interested in energy security as well.

In addition to the US$50 million donated by Mr Precourt a US$40 million gift from Thomas Steyer and Kat Taylor -- He is a graduate of the Stanford Graduate School of Business; she earned a joint JD/MBA degree from the Stanford Law School and the Stanford Graduate School of Business -- will create a new research centre as part of the institute -- the TomKat Center for Sustainable Energy. Professor Hennessy said that with the money in hand, hiring of new professors can begin quickly.

Prior to the official launch Professor Hennessey told the media: "Universities such as Stanford need to focus their full talent on the greatest challenges facing the world today. Energy is certainly one of those issues, posing a threat to our economy, to national security and, through the use of fossil fuels, to our environment. Addressing the challenge of energy will require research on a wide range of issues, from energy efficiency to development and deployment of renewable sources, to reducing the effect of fossil fuels."