The Victorian Government is set to deliver Australia’s biggest energy storage targets as part of a $157 million package supporting renewable energy generation and storage projects across the state, writes Gavin Dennett.
Premier Dan Andrews recently announced Victoria will reach 2.6GW of renewable energy storage capacity by 2030, with an increased target of 6.3GW of storage by 2035, which is around 50 per cent of the state’s current residential peak-energy usage.
These nation-leading targets are expected to secure 12,700 jobs and $1.7 billion in investment from 2023 to 2035.
The government is investing $119 million from its $540 million Renewable Energy Zone Fund in a 125MW big battery and grid forming inverter in the Murray Renewable Energy Zone, between Bendigo and Red Cliffs.
“We’ve tripled the amount of renewable energy and created thousands of jobs,” says Andrews. “We’re not just talking about climate action, we’re getting on with it.”
The Climate Council welcomes Victoria’s new renewable energy storage target as the state transitions into its renewable energy future.
“Victoria is leading by example in setting a target for renewable energy storage, which is an essential component of a flexible, reliable and clean energy system,” says Dr Jennifer Rayner, head of advocacy, Climate Council.
“With its new target of 2.6GW of renewable energy storage capacity by 2030, Victoria will bring online as much reliable, dispatchable capacity as a large coalfired power station.
“This shows that clean, affordable renewables backed by storage can meet our energy needs. We don’t need to keep dirty coalfired power stations as backup anymore when batteries and other renewable forms of storage such as pumped hydro can do the job more cheaply, reliably and cleanly.”
The Victorian Government has also announced $38.2 million from its Energy Innovation Fund will go to four energy generation and storage projects that will generate 150 new jobs.
The projects are a 100MW battery and inverter in Terang (pictured above); two bioenergy projects at farms in Gippsland and Barwon; and Yarra Valley Water installing an electrolyser to make renewable hydrogen using recycled water in Wollert.
“Our new energy storage targets will deliver up to 12,700 jobs for Victorians, save Victorian families money on their energy bills, and slash our state’s emissions for generations to come,” says Victorian Minister for Energy Lily D’Ambrosio.
Victoria is already home to the largest battery in the Southern Hemisphere: Geelong’s 300MW Victorian Big Battery.