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The Victorian government has set a delusional target to deliver 95% renewable energy by 2035. These targets are legislated in the Renewable Energy (Jobs and Investment) Act 2017 (Vic), namely:
- 25% by 2020 (achieved)
- 40% by 2025
- 65% by 2030 (previously 50%)
- 95% by 2035 (new).
Victoria’s renewable energy targets overlook the reality that wind droughts are particularly common in winter, which coincides with periods when solar generation is severely hindered by cloudy conditions and shorter days.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.