The Victorian Government is assisting community-owned renewable energy projects to reduce energy prices and emissions in order to battle climate change.
Minister for Energy Lily D’Ambrosio attended the groundbreaking of a solar-battery project to provide 100 per cent renewable energy to Newstead, a town 15 minutes from Castlemaine, as well as announcing funding for 15 new projects around Victoria.
“Newstead is leading the way — driving down their energy bills by up to 30 per cent and helping Victoria hit our target to reduce emissions by 50 per cent by 2030,” Minister D’Ambrosio said.
The community-led Renewable Newstead Energy Project, which is funded by a $1.1 million State Government grant, is a 3-megawatt (MW) solar farm and 5-megawatt-hour (MWh) battery system that will produce enough power to transition Newstead to 100 per cent renewable energy.
The project was led by the community group Newstead 2021 Inc and made possible by an unprecedented partnership with Powercor and retailer Flow Power.
With construction expected to be completed by July 2023, Flow Power will make a retail offer accessible to Newstead homeowners, giving power bill discounts of up to 30 per cent. Flow Power will reinvest a percentage of its income in the community to fund other renewable energy projects.
To break ground on the project, the Newstead volunteer group surmounted enormous hurdles such as the COVID-19 epidemic, grid limits, market fluctuations, weather occurrences, and international supply chain issues.
Through the latest round of the New Energy Jobs Fund (NEJF), the State Government has committed allocated an additional $1.15 million to Victorian renewable energy and energy efficiency projects. The funds will go towards 15 new projects that will improve energy security, encourage private investment, and create jobs.
“This Fund is empowering communities and local businesses to take part in Victoria’s clean energy transition while creating jobs, slashing emissions and sharing economic benefits locally,” Minister D’Ambrosio said.
The NEJF has granted a total of $20 million to assist community-based projects that create long-term sustainable jobs, promote the usage of renewable energy, reduce greenhouse gas emissions, and encourage innovation in emerging energy technology.
“Congratulations to the Newstead community who have led this incredible project and will soon see their town running on 100 per cent renewable energy,” Member for Bendigo West Maree Edwards stated.
