Half the energy used in the southern state of Victoria could come from renewable sources such as wind, solar and hydro power within 12 years, if the state Labor Party government is re-elected.
The Labor Premier, Daniel Andrews, today promised to raise Victoria’s Renewable Energy Target (RET) from 40 per cent to 50 per cent by 2030 if his party wins this month’s election.
The move is certain to enhance Labor’s green credentials and cement the state’s transition away from coal as its primary power source.
Victoria has already legislated RETs of 25 per cent by 2020 and 40 per cent by 2025, although the opposition conservative Liberal-National coalition has promised to scrap those targets if it wins the November 24 election.
Labor is moving to strengthen the contrast in energy policy with the coalition, which is yet to unveil a substantial emissions policy.
However, Labor’s pledge is also a pitch to inner-city voters where the government faces a major threat from the Australian Greens Party in at least two electorates, Brunswick and Richmond.
The move may also inflame tensions with the federal Liberal-National government, which clashed with the Victorian government over its refusal to sign on to the now abandoned National Energy Guarantee (NEG).
Federal Energy Minister Angus Taylor wants to preserve the reliability component of the NEG but has said emissions are not a policy priority.
Australia has an internationally agreed target to cut its emissions by 26-28 per cent of 2005 levels by 2030.
Victoria’s Energy Minister Lily D’Ambrosio said the targets would help deliver about $9 billion of investment in the renewable energy sector and create more than 11,000 jobs over the life of the scheme.
Labor estimates that the target would help deliver up to 5400 megawatts (MW) of new, large scale renewable energy capacity into the state’s grid in the next seven years and that 732MW of new renewable capacity had already been built under Labor.
A further 3000MW was either under construction or contracted to be built, the minister said.
Labor held Victoria’s first renewable energy auction in September, aimed at delivering 928MW of green power with the six projects across the state producing enough electricity for 646,273 households.
The government said this was the equivalent of powering the regional cities of Ballarat, Bendigo, and Geelong.
The power produced by these projects is also expected to drive a 16 per cent reduction in Victoria’s electricity sector greenhouse gas emissions by 2034/2035.
Boosting the RET comes on top of the government’s work to cut power bills for Victorians.
Labor has already promised to deliver half-price solar panels to 650,000 households under a $1.2 billion election proposal.
In addition, it has pledged to contribute towards the cost of household solar batteries for those who already have solar panels in another $40 million program.
Labor has also promised to establish a government agency to manage its solar homes program in the Latrobe Valley city of Morwell.
The Latrobe Valley was hit hard by job losses when the Hazelwood power station and coal mine closed.
