Renewables Key Winner in Queensland Budget
15 June: Renewables Key Winner in Queensland Budget
Funding for renewable energy is a key pillar in the 2021-2022 Queensland Budget, a move that is commended by community group Solar Citizens.
“The Queensland government has shown in this budget that they’re ready to take the first steps towards turning the Sunshine State into a clean energy superpower,” said Ellen Roberts, National Director at Solar Citizens.
“Investing in more publicly-owned solar, wind and storage is a sensible move that will unlock future-proof clean energy jobs and pave the way for more local manufacturing.
“Queensland’s mineral resources mean we’re well-placed to produce clean technology, like storage batteries, materials for electric vehicles and renewable hydrogen.
“Government investment in clean energy and electric vehicles is a key component needed to kick-start renewable manufacturing because it creates a local market for these products.”
Today’s budget also comes as a report from the Queensland Conservation Council finds that Queensland’s state-owned coal generators won’t be profitable after 2024.
“We’ve just seen in the headlines this morning that by 2024 Queenslanders will be forking out to keep state-owned coal-fired power stations afloat because they’re rapidly becoming unprofitable.
“Allocating $2 billion for more publicly-owned renewable energy and storage will help diversify the state’s energy mix but we’ll need a lot more investment to replace unprofitable coal stations.”
A new analysis commissioned by Solar Citizens found that replacing Queensland’s 7.2GW of state-owned coal generation with 100% renewable energy would require 7.1GW of solar PV and 10.1GW of wind capacity as well as 4GW/ 103GWh of supporting energy storage.
The budget includes:
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A further $1.5 billion for the Renewable Energy and Hydrogen Fund to build publicly-owned renewables.
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$22 million for a feasibility study into pumped hydro at Borumba dam.
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$2.75 million to expand Queensland’s Electric Super Highway with an additional 18 charging stations.
Media contact: Ellen Roberts 0408 583 694
