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The Victorian Government supports the growth of the renewable energy technology sector through initiatives that:
- identify areas in our state with the greatest potential for renewable energy
- strengthen our transmission networks to connect renewable energy resources
- support the development of innovative renewable energy projects.
Victorian Renewable Energy Target (VRET) Auctions
The first renewable energy auction supported 6 large-scale renewable energy projects across the state. Together, these projects will:
- generate $1.1 billion of economic investment in Victoria
- create more than 900 jobs, including over 200 apprenticeships and traineeships
- retain a further 600 jobs.
Projects proposed in the second auction are now being assessed.
Renewable energy zones
Renewable energy zones are regions in Victoria where large-scale, renewable energy generation projects are operating or being developed and need timely and coordinated network infrastructure development with strong community support.
Stage one projects to strengthen and modernise Victoria’s electricity grid are underway.
Innovation
The key to delivering the energy transformation will be innovation in technology solutions, business operations and stakeholder engagement.
Five rounds of the New Energy Jobs Fund supported Victorian-based projects that:
- create long-term sustainable jobs
- increase the uptake of renewable energy generation
- reduce greenhouse gas emissions
- drive innovation in new energy technologies.
The Energy Innovation Fund supports activities that progress innovative projects to commercial products. This includes:
- feasibility and pre-investment studies
- front-end-engineering-design
- large-scale pilots and demonstrations.
The Business and Industry Engagement team is your first port of call for guidance, information and access to industry networks and programs.
Tools and guides are available to help project developers and communities understand the progress and potential of new energy developments across Victoria. We have worked with local communities to develop a series of Regional Renewable Energy Roadmaps plotting the potential investment, jobs and energy produced.
Powering business in Victoria
The Powering Business in Victoria program supports commercial and industrial (C&I) businesses as Victoria transitions to renewable energy. This includes:
- attracting and retaining industry and jobs in Victoria by helping deliver more competitive electricity prices
- facilitating the construction of renewable energy projects to transition Victoria’s C&I electricity users to renewable energy
- ensuring a continued pipeline of renewable energy projects in Victoria enables a sustainable renewable energy industry.
Market Facilitation Platform consultation
A 6-week consultation is now closed for feedback review. The consultation looked at barriers businesses face when entering into Power Purchase Agreements and if a Market Facilitation Platform could address this. The feedback will help us investigate how we can help C&I businesses lower their electricity costs and transition to a renewable energy future.
Read the Market facilitation platform consultation paper on Engage Vic.
Page last updated: 07/06/23