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Victoria has legislated a target to source 95% of its electricity from renewable energy by 2035. This is one of Australia’s and the world’s most ambitious renewable energy goals, designed to accelerate the state’s transition away from cheap brown coal and toward cleaner energy sources such as wind, solar, and storage.
The Renewable Energy (Jobs and Investment) Act 2017 (Vic) embeds the target and gives it legal force. The following timelines have been set to reach the 95% renewable energy target:
- 25% renewables by 2020
- 40% by 2025
- 65% by 2030
- 95% by 2035
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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.
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