South Australian Premier, Jay Weatherill, said Labor wants three-quarters of the state’s energy to come from renewable sources within eight years if re-elected in March 2018.
The South Australian Labor Government will lift the state’s renewable energy target to 75 per cent and set a 25 per cent target for renewable energy storage by 2025.
Mr Weatherill said the two initiatives will help drive down power prices and maintain the state’s leadership position in the renewable energy sector.
Currently, 48.9 per cent of the state’s power is generated from green sources.
“The world is now looking to South Australia, and we’re sending yet another signal to renewable energy leaders that their investment is welcomed in our state,” Mr Weatherill said.
SA Minister for Energy, Tom Koutsantonis, said increased competition in the renewable energy space would mean cheaper power prices for South Australians.
“More competition from wind, solar, batteries and pumped hydro will lower bills for families and help businesses grow,” Mr Koutsantonis said.
The SA Government has already teamed with Elon Musk to build the world’s largest lithium-ion battery in Jamestown in the state’s mid-north and a solar thermal power plant at Port Augusta.