Australia’s federal government will support Queensland’s LREZ program with AUD 21.2 million funding
It will expand the solar power generation capacity of the same by 10.6 MW to a total of 16.2 MW
The program will enable AUD 800/annum savings on electricity bills for participating households
Prime Minister Anthony Albanese-led Australian government has approved AUD 21.2 million ($14.62 million) funding for Queensland to expand the solar capacity of its Local Renewable Energy Zones (LREZ) projects by an additional 10.6 MW.
The state government has already committed AUD 80 million ($55.17 million) to the program in Townsville and Caloundra.
The LREZ is aimed at enabling rooftop solar power generation during the daytime, transferring it into batteries, to be transferred back to the additional households during nighttime. It can be shared locally across the state’s existing electricity infrastructure.
This facilitates the use of solar power for those who have not yet been able to invest in it including renters, vulnerable customers and those living in unit complexes.
A pilot was launched for the 2 locations in June 2024 with AUD 40 million ($27.58 million) budget each. For both Townsville and Caloundra, the target was set at up to 8.4 MW/18.8 MWh of battery storage deployment and support up to an additional 2.8 MW of solar PV, and 0.9 MW of demand management, each.
Now, the federal funding from the Solar Banks Program will expand the solar capacity of the LREZ project by 10.6 MW to a total of 16.2 MW.
The Australian government’s Department of Climate Change, Energy, the Environment and Water, these projects can save participating households up to AUD 800 ($552)/annum on electricity bills.
“Queenslanders have some of the country’s best sunshine. The Albanese Government’s Solar Banks program is making sure everyone can enjoy cheap solar power in their homes,” said Australia’s Minister for Climate Change and Energy, Chris Bowen. “By partnering with the Queensland Government we’re making it easier for Queenslanders to access the cheapest form of energy and cut power bills.”
Queensland is also working on 12 large-scale REZs to host around 22 GW of new renewable energy capacity as part of its plans to achieve 80% renewable energy capacity in the power mix by 2035 (see Queensland Ready With Renewable Energy Zone Roadmap).