The Clean Energy Council says that Victoria’s energy storage targets announced as part of a $157 million package by the Victorian Government on Tuesday will help to deliver a more reliable grid as the state transitions away from costly, dirty and failing coal-fired power generation.
"Today's announcement will be a boon for energy consumers and clean energy investors as Victoria's renewable energy future takes shape," said Clean Energy Council Chief Executive Kane Thornton.
The Victorian Government has announced two legislated renewable energy storage targets – 2.6 GW by 2030 and 6.3 GW by 2035.
There are also plans for a new 125 MW/250 MWh big battery in the Murray River renewable energy zone, a 100 MW/200 MWh battery in Terang, and two bioenergy projects in the Gippsland and Barwon regions. Additionally, Yarra Valley Water will be funded to install an electrolyser to make renewable hydrogen using recycled water in Wollert.
As a package, it's expected to deliver $1.7 billion of investment and 12,700 jobs over the next 12 years.
"The Australian Energy Market Operator has made it clear that significant amounts of new energy storage capacity is needed. By committing to delivering on big targets for energy storage, the Victorian Government is sending a critical signal that will help bring much-needed investment to the state," said Thornton.
"The significant jump in storage planned between 2030 and 2035 is the latest recognition that Victoria's remaining coal generators are unlikely to last much beyond 2030. Ensuring adequate energy storage is in place ahead of those retirements is sensible planning by the Victorian Government."
For more information or to arrange an interview, contact:
Clean Energy Council Media Manager
+61 409 470 683