In its recent budget session for 2022-23, the Victorian Government decided to allocate $300 million for driving more energy initiatives with a goal to reduce the energy bills. As part of the package, investments will be made to improve the renewable energy infrastructure, ensure net-zero emissions, secure the energy grid performance and drive down the energy bills.

This budget will also create more industry jobs in the solar sector and boost the clean energy generation capacity. Since 2014, Victoria has proudly generated more than 4,400MW of clean energy in the state.

Lily D’Ambrosio, the Victorian Minister for Energy, Environment and Climate Change, said Victoria is leading the way in Australia by creating more jobs, improving renewable energy, cutting living expenses, and reducing emissions to half by 2030. Also, the Government has decided to slash the household energy bills and provide an extended rebate via Solar Homes Program to make sure Victoria emerges as the renewable energy capital of Australia.

With $250 million investment, the energy budget aims to ease the cost of living for families and help Victorian households in getting a better energy deal that makes them pay less for electricity bills.

All eligible households can apply for a new $250 Power Saving Bonus starting from 1 July 2022. The payment will be available to those households who actively use the State Government’s Victorian Energy Compare website to search for a better electricity savings deal. Also, even those households who have previously claimed a $50 or $250 Power Saving Bonus will still be eligible to receive this new one-off payment.

With the expansion of the Solar Homes Program, the recently announced budget aims to make switching to solar more affordable with solar panel rebates of a current rebate value of $1400 and zero-interest loans.

Coming to boosting the renewable jobs, $8 million is allocated to support training for electrical workers who wish to start a career in the solar industry. The future-proof the community against natural disasters, $10 million for microgrids and $9.4 million for storms, floods and fire recovery are allocated.

Conclusion

The 2022-23 budget for energy is focused on creating more jobs in the solar sector and boosting the clean energy generation capacity with investments that improve the renewable energy infrastructure, ensure net-zero emissions, secure the energy grid and drive down the energy bills.