Victoria passes half-way mark on road to 50% renewables by 2030

Source: RenewEconomy

10th December 2020

Victoria has passed the half-way mark to its legislated target of 50 per cent renewable energy by 2030, with the announcement that the state has officially met its interim target of 25 per cent renewables by 2020.

Victoria’s energy minister Lily D’Ambrosio declared the milestone achievement in a speech to the Melbourne Press Club on Tuesday, the same day that the Labor Andrews government unveiled new energy efficiency targets for households and businesses.

The state now must turn its attention to the job of doubling that number in just 10 years, while also adapting its grid to accommodate the additional 5.4GW of new renewable energy capacity – both large-scale and small – the Australian Energy Market Operator estimates will be needed to meet the 2030 VRET.

Meanwhile, the state’s electricity prices appear to be headed downwards, contradicting the popular claim of the state opposition and Coalition members in federal government ranks that ambitious renewable energy targets equate to costly power for consumers.

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