The Government is giving the renewable energy sector the confidence needed to invest in the renewable energy projects and jobs that are crucial to our State's future.

In June 2016, the Victorian Government committed to Victorian renewable energy generation targets of 25% by 2020 and 40% by 2025.

The Renewable Energy (Jobs and Investment) Act 2017 (Vic)

The Renewable Energy (Jobs and Investment) Act 2017 (Vic) legislates the Victorian Renewable Energy Targets, demonstrating Victoria’s leadership on renewable energy.

Meeting the targets will bring forward significant investment in new renewable energy projects in Victoria, create thousands of jobs, put downward pressure on electricity prices and secure Victoria’s electricity supply.

The Act is part of a package of policy reforms designed to deliver investment and employment in Victoria, ensuring a sustainable economy for current and future generations.

This package includes the

The achievement of the targets is supported by the Victorian Renewable Energy Auction Scheme (VREAS), which awarded long-term contracts to 6 new renewable energy projects.

Consultation

A consultation paper on the detailed design of Victoria's renewable energy auction scheme is available via the link below.

The consultation paper sought feedback on the design of the overall scheme structure, as well as on specific scheme components including payment structure, contracting elements, scheme administration and cost recovery mechanism, and auction evaluation principles.

Workshops were held on 23 and 24 August 2016 for key stakeholders and interested members of the public to provide verbal feedback on the consultation paper.

Written submissions

Following the workshops into the design of the scheme, feedback was also invited through written submissions to the Consultation Paper via renewable.energy@dewlp.vic.gov.au.

The Government received submissions from a range of renewable energy project developers, financiers, peak bodies, agencies and individuals. Written submissions closed on 31 August 2016.

A summary of the submissions has been prepared and can be found below.

Victorian Renewable Energy Auction Scheme summary report of stakeholder submissions (PDF, 594.9 KB)

Non-confidential submissions into the design of the Victorian Renewable Energy Auction Scheme Consultation Paper are below.