The Victorian Government has released a plan to deliver the state’s future energy system and reach the target of 95 per cent renewable energy generation by 2035.
The Cheaper, cleaner, renewable: Our plan for Victoria’s Electricity Future lays the groundwork to transition Victoria to a cheaper and more reliable renewable energy future while ensuring that communities and businesses will benefit from an orderly transition.
The Victorian Government said that by 2035, Victoria’s electricity system will be fundamentally transformed. Electricity use will have increased by about 50 per cent or more, driven by homes and businesses switching to electricity, and population growth. At the same time, all of Victoria’s ageing coal-fired power plants will have closed.
To ensure that the state reaches the 95 per cent renewable energy target, The Victorian Government said it will unlock around 25GW of new rooftop solar, offshore wind, onshore renewables and energy storage over the next decade.
The plan outlines the policies and programs that are in place to deliver the new capacity and highlights the investment and job opportunities available. An estimated $35 billion in capital investment will be required and 59,000 jobs will be created to 2035 and an expansion of training and apprenticeship programs aims to create a pipeline of skilled workers.
The State Government said that Victoria has more than tripled the share of renewable energy since 2014 and is now generating 39 per cent of its power from renewables, which means renewables now produce more electricity per annum than any of the three remaining coal fired generators.
Victoria’s target of 95 per cent renewable generation by 2035 includes a role for gas fired electricity generation to support grid reliability and security. On average, gas provides around two to five per cent of total electricity generation each year in Victoria.
Households and businesses will continue to be empowered to lower their energy bills by installing solar through Solar Victoria and increasing energy efficiency through programs such as Victorian Energy Upgrades.
To ensure that the benefits of this massive investment in Victoria are shared equitably VicGrid is collaborating with landowners, local communities and Traditional Owners on the way renewable energy infrastructure – including transmission – is planned and developed.
The Victorian Government said that an orderly transition is critical to keeping the lights on and energy prices down as Victoria moves towards its world leading climate target of net zero by 2045.
Victorian Minister for Energy and Resources, Lily D’Ambrosio, said, “We will deliver an affordable, reliable and secure electricity system for all Victorians and this consolidated plan will ensure community and industry are at the centre of our orderly transition.”
“We mean business. We’re powering ahead with our big renewable energy build and creating and maintaining the right conditions for renewables investment.”
Image credit: Avant Visual/Shutterstock.com.
