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Our energy sector is rapidly transforming as we move to low-emission, renewable energy sources to achieve our 2050 net-zero emissions goal.
Victoria has legislated renewable energy targets of 40% by 2025 and 50% by 2030. This provides investment certainty to attract new energy projects, technologies and companies to the state.
Businesses and industry are key to providing the investment and technology we need to transition. They will implement solutions and also benefit from the transition.
We are helping businesses seeking to invest in the state’s clean energy future by:
- supporting renewable energy projects
- promoting investment opportunities
- building capability.
Our renewable energy sector
Victoria is one of the most exciting energy markets in the world. It is attracting investor interest from local and international businesses.
Investors are attracted to our:
- strong economy
- world-class infrastructure
- stable financial environment.
Australia ranks amongst the top 10 countries for rule of law. We are also in the top 5 for:
- quality of the regulatory environment
- fair administration of justice
- the safeguard of personal security
- protection of property rights (World Bank's Worldwide Governance Indicators).
Renewable energy is a priority growth sector. It is vital to the future economic prosperity of Victoria. The state’s targets of 50% renewable energy by 2030 and net zero emissions by 2050 will need more investment, more innovation and the creation of new industries and jobs, particularly in regional Victoria.
These targets provide certainty and investor confidence in the renewable energy industry.
Victoria is on the map to identify, attract, support and connect investors from interstate and international markets.
The renewable energy industry is expected to create around 24,000 jobs by 2030 and drive an extra $5.8 billion in economic activity in Victoria.
- Victoria’s new energy technology investment prospectus. It outlines the opportunities arising from Victoria’s energy transformation.
- Overview of the Victorian network connection and approval processes. It explains the process for connecting to the grid.
These documents are available on request by emailing the Business and Industry Engagement team
Page last updated: 07/09/22