Victoria is rapidly advancing towards its renewable energy goals after achieving record levels of renewable electricity generation last year.
More than 42% of Victoria’s electricity now comes from low-cost renewable sources, putting the state on track to meet its legislated target of 40% by the end of 2025.
The increase in renewable energy has helped Victorians enjoy the lowest wholesale power prices in the country, averaging $107 per megawatt hour last year.
This compares favorably with other states, including NSW at $151, South Australia at $138, Queensland at $127, and Tasmania at $115 per megawatt hour.
Minister for Energy and Resources Lily D’Ambrosio said the focus is on reducing energy costs for Victorian families, easing the cost of living, and putting more money back into households.
Victoria now hosts over 90 renewable energy projects, contributing nearly seven gigawatts of capacity to the grid, with another 50 gigawatts of proposed or committed projects.
Once completed, these projects are expected to power 574,000 households annually.
Solar panels alone accounted for 11% of Victoria’s electricity generation in the last financial year.
