As the Victorian state election approaches, the major parties have unveiled their competing energy policy platforms. The major parties’ policies could not be more diverse or leave the Victorian Renewable Energy Target (VRET) in more doubt.
- increase the VRET to 50 per cent by 2030 (from the current commitment of 25 per cent by 2020 and 40 per cent by 2025) - this is the core policy for the Andrews government
- expand the Solar Homes Initiative (to reduce the cost of energy):
- 50 per cent subsidised solar panel scheme for rooftop solar panels installed on 650,000 homes
- expansion of battery and solar hot water rebate schemes
- 50,000 rebates for Victorian rental properties
- ban embedded networks in new apartment developments.
- introduction for consumers of a Victorian Default Offer for retail electricity contracts.
- abolish the VRET, with the states renewables policy to be determined federally
- construct a new Victorian power station – with tender to be sought for a privately owned, technology-neutral 500MW power station to supply baseload generation
- power to be purchased by the State in bulk for concession card holders - purchases to be by tender in which the “lowest price wins”
- subsidies to Victorian public schools to assist with installation of solar panels and battery storage.
- increase the VRET to 100 per cent by 2030
- establish Power Victoria, a publicly owned electricity retailer to provide electricity
- significant investment in battery storage and grid infrastructure
- provide $1,000 subsidies for residents to buy into Solar Gardens
- install solar panels and batteries on new and existing public housing homes in Victoria
- install solar panels and batteries all public schools in Victoria.
Change is about the only constant in the energy sector and, irrespective of the outcome of the State election, it would appear that this pattern is likely to continue.
Authors: Scott Schlink & Christabel Teo
Stephen Natoli, Partner
T: +61 3 9321 9796
Carl Hinze, Partner
T: +61 7 3135 0630
Scott Alden, Partner
T: +61 2 8083 0419
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