Boom times ahead for renewable energy thanks to Victorian Renewable Energy Target

Today’s announcement that the Andrews government will enshrine the Victorian Renewable Energy Target (VRET) into law and run auctions to ensure new projects go ahead is warmly welcomed by Environment Victoria.

Environment Victoria Acting CEO Dr Nicholas Aberle today said:

“The first auction under this scheme will drive the construction of 650 MW of new renewable energy projects in Victoria. This will bring sustainable jobs and investment to Victoria and provide consumers with clean energy that will push power prices down.

“650 MW is a fantastic start. Over the next few years, we’ll need thousands more megawatts of new clean electricity supply to replace our old and polluting coal power stations.

“Locking renewable energy targets into law and creating a plan to achieve those targets is exactly the leadership Victoria needs for its energy future.

“Following on from setting climate targets into law at the start of 2017, these renewable energy targets establish the Andrews government as a real leader in the transition to a cleaner, healthier and safer future.

“We hope that the introduction of this legislation into Parliament gives the Victorian Coalition an opportunity to drop its attacks on renewables. Bipartisan support for the VRET would provide certainty to renewable energy investors and the thousands of families who rely on the industry, particularly in regional Victoria.

“The Coalition knows that renewable energy is the cheapest form of new electricity – if they support cheaper power, they must support renewable energy.

“The Andrews government is putting in place a smart plan to fix Victoria’s energy with more renewables, more energy efficiency and more storage capacity. This is what the future looks like, and we hope it will receive support from all sides of politics.”