Victorian Government Invests $1.8 Billion to Help Families Drive Down Energy Bills, Promote Renewable Energy, and Protect the Environment

Article: The Victorian government, under the leadership of Premier Allan, is taking significant steps to support Victorian families in reducing their energy bills, promoting renewable energy, and protecting the environment. A $1.8 billion investment has been allocated in the Victorian Budget 2024/25, with the aim of delivering more opportunities for exploration, safeguarding the agricultural sector, and achieving ambitious emissions reduction targets.

As part of the investment, an extra $37.7 million will be added to the existing $624 million in rebates approved since 2018. This will support the Solar Homes program, which has already enabled more than 330,000 systems to be installed, turning rooftops into power stations and helping families run their homes more efficiently.

To ensure affordable and reliable renewable energy for Victorians, the State Electricity Commission has been reinstated. Additionally, a strategic review of the Victorian Energy Upgrades program will be conducted with a $5.9 million investment to further promote electrification, reducing power bills and emissions.

The Energy Compare website, which offers free independent energy bill comparisons, will receive an additional $8.7 million, benefiting Victorians by helping them find the best electricity offers in the market.

Recognizing the challenges faced by vulnerable Victorians, the government is investing $3.4 million in the Energy Assistance Program. This program aims to provide free, personalized advice on energy-saving, understanding bills, and accessing hardship programs and concessions.

Continuing their commitment to renewable energy, the government is investing $18.3 million towards achieving 2GW of offshore wind energy by 2032, enough to power 1.5 million homes. This investment will also create more jobs in regional Victoria.

To accelerate the renewable energy transition and ensure better planning processes, $17.5 million will be allocated to biodiversity assessments and planning for new renewable energy projects.

In line with Victoria’s goal of transitioning to 95% renewable energy by 2035, $12.5 million will be invested in the Victorian Transmission Investment Framework to plan transmission and renewable energy zones carefully, engaging and representing local communities.

The Victorian government is also investing $212 million to enhance the great outdoors and protect the environment. This includes managing and maintaining an additional 1.8 million hectares of forest and providing free entry for children under 16 years to select zoos and fauna parks.

Furthermore, a significant investment of $691 million will be dedicated to protecting the state’s precious water supply, ensuring optimal utilization as climate conditions become drier.

With these initiatives, the Victorian government is taking proactive steps to support families, promote sustainability, and create a greener future.

Source