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Highlights:
- Andrews government has announced Victoria’s biggest renewable energy storage targets.
- As per the announcement, the government will invest a total of AU$157 million.
- This campaign will provide Victorian citizens with up to 12,700 jobs.
The Victorian Government announced on 27 September 2022 that it has introduced Australia’s biggest renewable energy storage targets.
In the official announcement, Daniel Andrews (Premier of Victoria) and Lily D’Ambrosio (Minister of Energy) stated that the government will be utilising a package of AU$157 million (US$102 million) to support the production and storage of renewable energy. Victoria is estimated to have 2.6 gigawatts of renewable energy capacity by the year 2030, which will increase to 6.3 gigawatts by 2035. This amount of renewable energy will be enough to power about half of Victoria’s homes even when they are using the energy at full capacity.
These renewable energy storage targets will focus on driving down power bills, accelerating renewable energy investment in Victoria, and generating thousands of jobs for Victorian citizens. The renewable energy investment is expected to reach AU$1.7 billion between the period 2023 to 2035 and secure 12,700 jobs across Victoria. Apart from this, these targets will also focus on cutting down emissions by replacing coal-fired generation and sourcing half of the electricity from wind and solar energy.
The Andrews government recently released the state’s greenhouse gas emissions report. The report stated that in 2020, Victoria’s emissions had gone down by 30% in comparison to emission levels in 2005.
Meanwhile, a coal plant in Hazelwood was closed in 2017 due to not being economically viable. This closure also helped cut down the state’s emissions by another 10%.
Talking about the announcement, Daniel Andrews said:
How will these targets be fulfilled?
The Andrews labour government is taking out AU$119 million from the AU$540 million Renewable Energy Zone Fund and investing it in a 125-megawatt battery and grid-forming inverter. The investment will take place in the Murray renewable energy zone to stabilise the grid between Bendigo and Red Cliffs.
There is another investment of AU$38 million taken from the Energy Innovation Fund (EIF) that will go into the development of four different clean energy projects. AU$7 million for a 100-megawatt battery and inverter at Terang, AU$19.3 million for two bio-energy projects at Gippsland and Barwon farms, and AU$11.9 million for Yarra valley water. The use of modern battery technology performs as an implementation key for storage targets and stabilising the grid for a smoother transition to clean energy.
This announcement was welcomed with open arms by clean energy and climate activists and followers.
Victoria’s Minister of Energy commented on the announcement:
