The Victorian Government has released its 2022/23 Budget, with $300 million allocated for energy initiatives.
As part of the $300 million package, investments will go towards renewable energy infrastructure, progressing the transition to net-zero emissions, securing the grid and driving down energy bills.
The Victorian Government said since 2014, it has created thousands of jobs and brought more than 4,400MW of new clean energy online – 2,800MW more than the capacity of Hazelwood power station.
Victorian Minister for Energy, the Environment and Climate Change, Lily D’Ambrosio, said, “Victoria is leading the way – creating thousands of jobs, driving investment in renewables, cutting the cost of living for families and working to halve emissions by 2030.
“We’re slashing household energy bills and cementing Victoria as the renewable energy capital, boosting energy reliability, creating jobs and halving emissions by 2030.”
Aiming to ease the cost of living pressures and help Victorians get a better deal on their energy bills, the Budget will invest $250 million so all Victorian households can apply for the new $250 Power Saving Bonus from 1 July 2022.
The new $250 payment will be open to all Victorian households who use the State Government’s Victorian Energy Compare website to search for a better deal on their electricity.
Households that have previously claimed a $50 or $250 Power Saving Bonus will still be eligible for this new one-off payment.
The Budget also aims to make switching to solar more affordable with a boost to the Solar Homes program.
$42.2 million available for 64,000 Victorians to take up solar panel rebates and zero-interest loans, while continuing the current rebate value of $1,400. There is also further funding for 1,700 new solar battery rebates of $2,950.
To drive down energy bills, $9 million is allocated to critical energy affordability support services and one-on-one assistance for Victorians who need it most – as well as $1.2 million dedicated to driving down gas bills for businesses and households.
In terms of renewable jobs, $8 million will support training for electrical workers.
The Victorian Government aims to work towards future-proofing Victoria against natural disasters, including communities’ access to energy, through $10 million for microgrids in high-priority locations and $9.4 million to help recovery from storms, floods and fire.