The transition to 100% renewable electricity is technically feasible, economically beneficial, socially desirable, creates thousands of direct jobs and will leave Victorian households better off. However, due to a range of barriers and bottlenecks, this transition will not be realised without significant policy and funding support, including updating the Victorian Renewable Energy Target (VRET) to reflect rapid changes in Victoria’s energy context.
In 2020, renewable energy sources generated more than 26% of Victoria’s electricity, beating the state target of 25%. The recent growth trajectory has the state on track to also surpass the current targets of 40% by 2025 and 50% by 2030. But that trajectory is in peril. Financial commitment to new renewable projects in Victoria fell to zero in 2021 and policies play the key role.
Read our joint submission, with Beyond Zero Emissions, to the Victorian government’s Inquiry into Renewable Energy in Victoria.