Victoria’s clean electricity plans for 2035 rest on 4 pillars, with renewable energy being one of them
It targets 25 GW of clean energy capacity, including 7.6 GW of additional rooftop PV
It estimates an investment of around AUD 35 billion to achieve this transition
The Australian state of Victoria has unveiled its energy transition plan for the year 2035, which it expects to help unlock 25 GW of new renewable energy and energy storage capacity, with around 7.6 GW of additional rooftop solar capacity.
Under the state’s Cheaper, cleaner, renewable: Our plan for Victoria’s Electricity Future, Victoria will aim to achieve a 65% share of renewable energy in its power mix by 2030, scaling it up to 95% by 2035.
This includes around 7.6 GW of additional rooftop solar, and close to 11.4 GW of new grid-scale renewables, comprising 4 GW of offshore wind. As of April 2024, Victoria had installed 1 GW of utility-scale and 5 GW of distributed solar capacity, targeted to grow to 2.1 GW and 9.4 GW by July 2030, and further to 3 GW and 12.6 GW by July 2035, respectively.
Short and long duration storage will make up a minimum of 6.3 GW of this target. Gas-fired generation will provide around 2% to 5% of total electricity generation per year in the state.
By 2035, it will also shut down all of its aging coal-fired power plants, which represent around 4.8 GW capacity. Currently, the share of renewables in the state’s power mix stands at 38%.
Achieving these plans will require an estimated AUD 35 billion ($23.58 billion) in capital investment and create 59,000 jobs, according to the government.
Altogether, its energy transition plan rests on 4 pillars of enabling the renewables big build, empowering households and businesses to lower energy bills, managing the transition away from fossil fuels, and creating jobs, skills and supply chains.
“We will deliver an affordable, reliable and secure electricity system for all Victorians and this consolidated plan will ensure community and industry are at the centre of our orderly transition,” said Victoria’s Minister for Energy and Resources Lily D’Ambrosio. “We mean business. We’re powering ahead with our big renewable energy build and creating and maintaining the right conditions for renewables investment.”
.png?w=50&fm=png){kind=logo}