‘The ACT Government’s renewable energy initiatives are delivering renewable energy to Canberra households at record low prices and creating new commercial opportunities for Territory businesses.
As a strong supporter of renewable energy, the ACT Government is committed to positioning Canberra as an export-oriented hub for renewable energy innovation and investment. Through our solar and wind energy auctions, the Territory is on track to achieve 90% renewables by 2020, targeting 100% by 2025 and zero emissions/carbon-neutrality by 2060– making the ACT a recognised national and global leader in renewable energy and emissions reductions. Together with the Renewable Energy Industry Development Strategy and Local Investment Framework, we are attracting renewable energy businesses to the Territory and creating new training programs, research and business opportunities and jobs in the ACT.
By 2017, our existing solar and wind energy auctions will produce enough renewable energy to power over 100,000 homes. In addition to delivering clean energy to Canberra households at record low prices, the renewable energy auctions are driving $1.5 billion in infrastructure development and $300 million in direct local industry development.
Renewable energy companies, such as France-based Neoen, are establishing their Asia-Pacific headquarters in the ACT, while new initiatives are expanding the commercial opportunities of local renewable energy companies such as Windlab and RepositPower. Over the past five years, renewable energy jobs alone have grown by over 400% in the ACT from 33 to 163 jobs per 100,000 of population—the highest growth rate of any Australian jurisdiction.
Commitments by successful auction proponents to engage with ACTbased businesses are creating new opportunities for the broader commercial sector in the Territory, particularly in environmental and renewable energy consulting, construction, and legal, accounting and insurance services. The Renewable Energy Innovation Fund will drive opportunities for innovative and emerging Territory-based businesses to capitalise upon the tremendous opportunities that renewable energy and energy storage technologies represent.
Looking ahead Our Next Generation initiative, which combines renewable energy generation with energy storage, together with the second 200 megawatt wind auction and future renewable energy auctions will further help the Government reach the ambitious renewable energy targets. They will drive the development of new commercial opportunities and jobs in the region, growing a more robust, diverse and vibrant ACT economy for the people of Canberra.
For further information on these exciting initiatives, or to find out what opportunities are available for the ACT business community, please visit www.environment.act.gov.au/energy