The Victorian Premier and Victorian Minister for Energy, Environment and Climate Change have announced new renewable energy targets for Victoria.
The targets propose that 25 per cent of electricity generated in the state will come from renewable energy by 2020, and that this will rise to 40 per cent by 2025.
Only 14% of Victoria’s energy is currently supplied by renewable energy.
A reverse auctions scheme where project developers compete to be the lowest cost provider was also announced, with the first auction to being next year.
These announcements come in the lead up to the release of Victoria’s Renewable Energy Action Plan later this year.
