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Andrew’s Government $1.6 billion investment in renewables and energy efficiency a real winner

November 24, 2020

Victorian household’s power bills are likely to see a significant decrease in prices next year because of the Andrew’s Government’s $1.6 billion investment in renewables today, Australian Energy Foundation CEO, Alison Rowe said today.

“We know when Victorians are given the right energy advice and education about how to efficiently use energy, they save on average $160 a year for households on their power bills,” Ms Rowe said.

“The Andrew’s Government’s announcement today will further reduce this, as it gives more Victorians the opportunity to convert to a cleaner, greener way of living, and reduce their household expenses at the same time.

“I congratulate the Andrew’s Government for delivering a real budget with a real incentive to help move Australia towards net zero emissions.”

The Andrews Government announced an investment of $1.6 billion to create renewable energy hubs across the State, improve crucial grid infrastructure, decarbonise our energy system, drive down emissions and support more Solar Homes – the largest investment in clean energy of any state, ever.

The Budget provides $540 million to establish six Renewable Energy Zones – from sunny Mildura to the windy east coast – unlocking new renewable energy investment that will support economic growth and jobs.

Renewable Energy Zones will be the energy hubs of the future – supporting businesses, jobs and towns across regional Victoria.

The Budget also provides $12.6 million to bring online more than 600 megawatts of new, clean energy through our second renewable energy auction, to create enough energy to power 100 per cent of the Victorian Government with renewable energy – from public transport to schools and government buildings.

This investment will create enough energy to power more than 350,000 houses, support local manufacturing and jobs, and ensure the Government meets its increased legislated target of 50 per cent of electricity generation from renewable sources – which has been estimated to create around 24,000 jobs by 2030 and generate up to $5.8 billion in additional economic activity.

The Budget includes $108 million to prepare Victoria for innovative and transformational renewable energy and hydrogen projects – such as ground-breaking projects like Australia’s first offshore wind generator.

The Australian Energy Foundation is the leading for-purpose national energy foundation that collaborates with government, like-minded organisations and community groups to create an equitable zero carbon society and a better life for all Australians.

Contact: AEF CEO Alison Rowe: 0419 872 496

Editor’s note: Ms Rowe is available to speak to the media.

 

Download the Media Release as a PDF.

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