Australian state NSW has launched a 20-year energy roadmap, aiming to position the region as an “energy superpower.” The new plan is expected to deliver 12 gigawatts (GW) of renewable energy and 2 gigawatts of storage, such as pumped hydro, by 2030, along with $32 billion of private investment during that timeframe.
Deputy Premier John Barilaro said:
“The stimulus the Renewable Energy Zones will provide to regional communities will unlock over 9000 new jobs and will be a huge boost to farmers and land owners, with $1.5 billion in lease payments expected to go to landholders hosting new infrastructure by 2042.
“The roadmap will make sure that renewables are developed where regional communities want them and where they are compatible with farming.”
The new roadmap outlines several initiatives to modernize NSW’s electricity infrastructure, including cutting red-tape and speeding up approvals for transmission infrastructure in Renewable Energy Zones, while protecting the interests of consumers; creating a long term investment signal for new generation in Renewable Energy Zones, long duration storage such as pumped hydro, and on demand supply, like gas and batteries, and; making sure that renewable projects proceed where local communities want them and in ways that are consistent with farming.
NSW officials stated that in addition to will growing the economy, and creating jobs, the new plan is expected lower energy prices for consumers and businesses. It is also anticipated that the roadmap will attract $32 billion of private sector investment in electricity infrastructure by the end of the next decade.
Treasurer Dominic Perrottet said:
“Coming out of this crisis, not only are we stimulating the economy to create jobs now, we are looking toward the reforms NSW needs to secure our future.
“This is a big productivity plus. The roadmap will help boost our energy security and deliver to NSW some of the cheapest prices in the OECD, cutting power bills for families.”
Energy Minister Matt Kean said:
“Our priority is to keep the lights on and get power prices down, with the roadmap forecast to save NSW households an average of $130 and small businesses an average of $430 on their electricity bills each year.
“NSW has some of the best natural resources in the world and this roadmap is about acting now to leverage our competitive advantage and to position NSW as an energy superpower.”