NSW Labor Party’s renewable promise

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The NSW Labor Party has committed to delivering 7GW of renewable energy within a decade if elected.

NSW Labor has committed to:

  • Use reverse auctions to build 6GW of renewable energy with storage
  • Establish a new State Owned Corporation to deliver a further 1GWof renewables and storage

Four gigawatts of renewables will be commissioned in its first four-year term, subject to consultation with AEMO, industry and consumers.

NSW Labor says its policy will:

  • Power more than three million homes (more than are currently in NSW)
  • Create 13,485 direct jobs in regional NSW
  • Generate $9.5 billion in capital investment and $5 billion in additional economic benefits
  • Cut greenhouse gas emissions by 15 million tonnes, or 12 per cent of current NSW emissions

Smart Energy Council CEO, John Grimes, said, “This is an absolute game-changer, the biggest renewable energy policy ever announced in Australia. If this policy is implemented, NSW will go from laggard to leader.

“We are facing a climate change emergency and we need to do whatever we can to shift NSW’s energy generation to renewables. NSW Labor has delivered a smart plan for a smart energy future.”

Energy Networks Australia CEO, Andrew Dillon, said the renewable energy promises emerging from the NSW election campaign are commendable, but the lack of consideration of the impact on the electricity grid is a concern.

Mr Dillon said political commitments announced so far had contained scant information about how the huge increase in solar and storage was to be properly integrated into the grid to ensure security and reliability of power supplies.

“Energy network businesses are working hard to ensure the incredible growth we are seeing in renewable resources can be integrated into the grid in a safe and smart way,” he said.

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