Victoria would have 40 per cent clean electricity in less than a decade – nearly tripling the current level – under an ambitious plan announced by the Andrews government.
The government has set targets to ramp up wind power and large-scale solar power, paid for through an increase in household and business electricity bills and spending from the budget.
With private spending on clean electricity largely stalled due to a lack of confidence in federal government support for a national renewable energy target, the Andrews government believes its policy will make Victoria the centre of a revitalised industry.
It estimates that, at the peak of construction in the middle of the next decade, there will be about 4000 workers helping to build the target’s 5400 megawatts capacity of clean energy.
To put that in perspective, there are 18 wind farms with planning approval in the state, but not built.
The government says its target will improve the viability of the industry enough to build all of them – and nearly as many again – within nine years.
On top of this, one-fifth of the new generation capacity built would be solar plants in the state’s north.
In a statement, Premier Daniel Andrews said meeting the targets – 25 per cent by 2020 and 40 per cent by 2025, up from 14 per cent today – would bring about $2.5 billion of clean energy investment into the state.
“The world is shifting to renewable energy. It creates jobs, drives growth and protects our environment, and Victorians want to be at the forefront,” he said.
With Australia currently generating more electricity than it needs, in the short-term new wind farms will further increase competition and theoretically push prices down. But it means the yearly increase in bills next decade would be more than the average.
The clean energy policy is the first explanation of how the government plans to meet its target of Victoria having no carbon dioxide emissions by 2050. That target, announced last week, would mean no more burning coal for power. To read more CLICK HERE.
The National Sustainability in Business Conference; renewables, markets, innovation, opportunities and capital will be held 23 – 24 March 2017 at the Hotel Grand Chancellor, Brisbane.
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