According to Smart Grid Australia, the Government of Australia will include a AU$652 Renewable Energy Future Fund as part of its 2010-11 Federal Budget. Besides supporting the development and deployment of renewable energy projects, it is intended to encourage industrial, commercial and residential energy efficiency. It is expected that smart grid technologies will play an important role in increasing the efficiency of electric power usage in Australia as well as enabling the integration of intermittent renewable energy sources. Besides empowering the consumer to manage electric power usage, the smart grid provides improved control over network operations, improving reliability and reducing peak load. Last year Smart Grid Australia received AU$100 million from the Australian Government for a National Energy Efficiency Initiative to develop a demonstration smart-grid energy network which combines intelligent grid technology including residential smart meters to enable integration of renewable energy sources.

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