$9 billion renewable energy windfall at stake

Clean Energy Council
12 Nov 2010

Victoria would benefit by up to $9 billion in renewable energy investment under current State Government policies, according to independent research released today. The report - commissioned by the Clean Energy Council - found that this would increase clean energy capacity by a substantial 3000MWs by 2016, the equivalent of powering an estimated 1.2 million homes.

It also found that an estimated 650 new jobs would be created each year through to 2016 in the construction and operation of renewable energy facilities. The report was conducted by respected economic consultants Carbon Market Economics at the request of the Clean Energy Council, Australia's peak body of more than 450 renewable energy companies - an apolitical not-for-profit organisation.

The study compared existing and proposed renewable energy policies in Victoria and their potential impact on renewable energy development, in the lead up to the Victorian election on November 27.

It found the effect of the Victorian Opposition policy on wind farms would be severely detrimental - between 50% and 70% of currently proposed wind farms in Victoria would not be developed if this policy was pursued. Additional expenditure in wind generation would drop by $2.6 to $3.6 billion from 2010-16.

The Clean Energy Council's chief executive Matthew Warren said that while the organisation didn't support any particular political party, it did campaign for policies which created the best environment for the development of clean energy, or against any party whose policy would restrict its growth.

"There's no doubt that substantial wind farm investment and jobs will immediately leave Victoria if the Coalition's current policies were adopted. This could effectively cripple the wind industry", Mr Warren said. It was also hugely contradictory to public opinion, he said. A recent Newspoll study found that 93% of all Victorians want more renewable energy. The report found an estimated 200 fewer jobs would be created from 2010 to 2016 if the Victorian Coalition's policy was adopted.

"The wind farm standards proposed by Opposition Leader Ted Baillieu, including 2km setbacks, would make it tougher to put up a wind turbine in regional Victoria than to dig a new coal mine. "The proposed standards are not based on any scientific measure. Victoria has some of the toughest wind farm development standards in the world", he said.

For more information, contact the Clean Energy Council's Media Advisor Mark Bretherton or on 0413 556 981 or 03 9929 4111