The Victorian Labor party has announced it would legislate the largest renewable energy storage targets in Australia if it secures a third successive term in office.
Just under two months before the state election, Premier Daniel Andrews has set targets for the state to reach 2.6 gigawatts of renewable energy storage capacity by 2030 and 6.3 GW by 2035.
The latter storage target would be enough to power half of the state’s households.
“We will set and legislate Australia’s largest energy storage targets,” he said.
“This is all about giving certainty to industry, underwriting private sector investment. This important change will see some 12,700 jobs created, and will underpin $1.7 billion worth of investment in storage projects right across our state.”
Victoria has legislated a renewable energy target of 50 per cent by 2030 and aims to reach net zero emissions by 2050.
Mr Andrews said the storage targets would be legislated sometime in 2023, if Labor is granted another four years in government.
Advocacy group Environment Victoria described the targets as a “groundbreaking step” and another example of the state leading the nation on energy policy.
It is urging the federal government and other states to work with Victoria to develop a national storage target and for the Victorian coalition to commit to implement and improve on the goals if it returns to office.
“Sensible environmental policy shouldn’t belong just to one side of politics,” Enviromental Victoria chief executive Jono La Nauze said.
In addition to the targets, the Andrews government has allocated $119 million towards a 125-megawatt battery and grid-forming inverter between Bendigo and Red Cliffs, along with $38 million for battery and renewable projects in Terang, Gippsland, Barwon and Wollert.
Energy Minister Lily D’Ambrosio said some renewable storage batteries can discharge power for up to eight hours, dispatching energy when the sun is n’t shining or wind isn’t blowing.
“The more storage we have in our system … the cheaper power bills will be,” she said.
Unlike Labor, the Victorian coalition has vowed to legislate the state’s 2030 emissions reduction target and Opposition Leader Matthew Guy questioned how effective the storage targets would be.
“It’s not a bad suggestion but, at the end of the day, Victorians need cost of living relief today. They can’t afford to wait until 2035,” he said.
– Callum Goodde and Adrian Black, AAP
