The Victorian Government has recently announced $1.6 billion energy budget package as part of the Victorian Budget 2020/21, which is the largest investment in clean energy of any state, ever. As the budget is aiming for economic recovery from coronavirus with renewable, reliable energy that will save families money and support tens of thousands of Victorian jobs, according to Lily D’Ambrosio who is a minister for Energy, Environment and Climate Change, it is expected to help individual households, local communities and businesses particularly in regional Victoria, drive down their energy costs, as well as supporting economic growth and jobs.
Reduce Energy Costs and Emissions
The budget provides unprecedented $797 million to cut off Victorians’ power bills by upgrading energy efficiency. This includes:
- $335 million to replace old, outdated wood or gas fired heaters with energy-efficient, low-cost heating and cooling systems for 250,000 low-income households.
- $112 million to upgrade heating/cooling appliances for 35,000 social housing properties.
- One-off $250 payment for eligible concession card holders, including anyone receiving JobSeeker, youth allowance or pension payments.
- $40 million for businesses to install efficient, smart technologies that will boost productivity and reduce bills.
Solar Homes program expansion
To support and encourage more Victorians to get benefits of solar, the Government will spend $191 million to expand Solar Homes program with an additional 42,000 solar panel rebates for households and 15,000 solar rebates for businesses for the first time. The solar Homes battery program will be also expanded with 17,500 rebates made available over the next 3 years, and ‘Postcode eligibility’ that limits specific postcodes to this point, will be be lifted, which means all Victorians across the state are now able to apply for a battery rebate.
Victoria’s Renewable Energy Zones
As part of the budget, the Victorian government has allocated $682 million to establish 6 Renewable Energy Zones (REZs) – from sunny Mildura to the windy east coast – reinforcing system strength and unlocking new renewable energy investment that could support economic growth, jobs and towns across regional Victoria. This package includes:
- $540 million to develop 6 REZs that can accommodate new large-scale solar and wind power projects as the energy hubs of the future, ensuring Victoria meets its 50% renewable energy target by 2030.
- 12.6 million to initiate planning for more than 600 MW of new, clean energy through the government’s second renewable energy target auction, to create enough
- $108 million to prepare Victoria for innovative and transformational renewable energy and hydrogen projects, including Australia’s first offshore wind generator.
Local community energy projects
Local Communities can also benefit from the budget for carrying out clean energy projects, such as micrograms, neighborhood batteries, bushfire resilience programs and community-owned renewable energy projects.
- $27 million to support local energy projects that increase the use of clean energy
- $21 million for helping community groups to install renewable energy systems, storage and energy efficiency improvements at community infrastructures, and support the ResourceSmart Schools program that educates students about ways to integrate sustainability.
Fast-Charging Network for Electric Vehicles
A $25 million funding is being put towards launching a fast-charging network for electric vehicles across highways and key tourist destinations to create more jobs during construction and encouraging the use of electric vehicles as a sustainable alternative.
To check your eligibility for any supports from the Victorian Budget 2020/21, or to understand how it will impact your energy plan, contact Tesla Electrical & Solar directly for a free quote.