Under the Renewable Energy (Jobs and Investment) Act 2017 (REJI Act), Victoria legislated renewable energy targets of 25 per cent by 2020, 40 per cent by 2025 and 50 per cent by 2030. 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.
The reporting period for this report is the 2018-19 financial year.
This report presents an assessment of: progress towards the targets; state-wide investment and employment in Victoria in relation to renewable energy generation; and, the performance of the VRET 2017 Reverse Auction – a scheme designed to support the achievement of the targets.
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 received from renewable energy project developers.