Under the Renewable Energy (Jobs and Investment) Act 2017 (REJI Act), Victoria legislated renewable energy targets of 25 per cent by 2020 and 40 per cent by 2025. The REJI Act also supports schemes to achieve the targets while encouraging investment and employment in Victoria.
Section 8 of the REJI Act requires the Minister for Energy, Environment and Climate Change (the Minister) to report to the Parliament for each financial year on:
- the progress made towards meeting the renewable energy targets;
- investment and employment in Victoria in relation to renewable electricity generation; and
- the performance of schemes to achieve targets under the REJI Act that promote the generation of electricity by large scale facilities that utilise renewable energy sources or convert renewable energy sources into electricity.
This is the first report delivered since the REJI Act commenced on 15 December 2017. The reporting period for this report is the 2017-18 financial year.
This report presents an assessment of: progress towards the targets, and state-wide investment and employment in Victoria in relation to renewable energy generation. The performance of the VRET 2017 Reverse Auction – a scheme designed to support the achievement of the targets with successful projects announced in September 2018 – will be reported on in the 2018-19 VRET Progress Report.
The Department of Environment, Land, Water and Planning (DELWP) has based this report on the latest publicly available information from sources including the Australian Energy Market Operator (AEMO), the Clean Energy Regulator (CER), and project information from renewable energy project developers.