Victoria has a wealth of clean energy resources which are set to play a key role in meeting Victoria's future energy needs. Victoria's share of electricity generated from renewable resources has increased substantially, from 4.8 per cent in 2009 to 12 per cent in 2014. Australia is forecast to attract $36 billion in renewable energy investments by 2020. It is vital Victoria captures a share of this.
The Victorian Government has identified the new energy technology sector as one of the growth sectors vital to the future economic prosperity of Victoria and so has recently released a strategy for the New Energy Technology sector, one of six priority sectors where Victoria is uniquely placed to become a global leader.
New Energy Jobs Fund
The $20 million New Energy Jobs Fund is designed to support Victorian-based projects that create long-term sustainable jobs, increase the uptake of renewable energy generation, reduce greenhouse gas emissions and drive innovation in new energy technologies.
Funding to support new energy technology projects is available through three annual grant rounds. Round one closed on 16 March 2016 with 24 projects awarded grant funding.
The second grant round closed on 1 March 2017. The third grant round is expected to open late 2017.
The fund is a key component of the $200 million Future Industries Fund to support high growth, high value industries, such as the new energy technologies sector that are critical to securing Victoria's future as a competitive, innovative and outward looking economy.
For more about the New Energy Jobs Fund, visit Business Victoria
The Latrobe Valley New Energy Technology Roundtable
On 2 June 2017 the Victorian Government, in collaboration with the Latrobe Valley Authority, held the Latrobe Valley New Energy Technology Roundtable aiming to promote local new energy projects and connect local businesses and other renewable energy supply chain partners.
The event attracted 186 attendees of whom 91% rated the day as very useful with many new business prospects discussed and new confidence in the role of renewables as a transition strategy for the Latrobe Valley. The Victorian Government will be holding new energy technology roundtables in other locations around Victoria in the near future.