Victorias renewable energy policy David Oglesby Renewable Energy

Victoria’s renewable energy policy David Oglesby Renewable Energy Division Manager, Strategic Development and Insights

Renewable Energy in Victoria Current installed capacity 11, 920 MW Renewable energy investment pipeline 4, 916 MW Estimated new renewable capacity by 2019/20 1, 520 MW Approved windfarms Up to 2, 726 MW 2

Our approach to energy policy Empowering and engaging households, communities and businesses Renewable energy policy Creating new jobs, investment and energy sector growth Strengthening our smart, safe and reliable energy system 3

Key actions: § Delivering ambitious and achievable renewable energy targets § 25% by 2020, 40% by 2025 § Purchase renewable energy Creating new jobs, certificates ($48 m) investment and § New Energy Jobs Fund ($20 m) energy sector Implementing the New Energy growth Technology Sector Strategy 4

Empowering and engaging households, communities and businesses Key actions: § Establish three Community Power Hubs in regional Victoria to support local energy projects § Introduced an improved feed-in tariff scheme to ensure a fair approach for all consumers § Update Victorian Energy Compare to include renewable solutions 5

Key actions: § Deploying energy storage to integrate renewable energy generation ($25 m) § Investment in microgrid, smart grid and renewable energy storage Strengthening our demonstration projects ($15. 8 m) smart, safe § Establish the Centre for New Energy and reliable energy Technologies ($5. 36 m) system 6