The Victorian Government is introducing the biggest energy storage targets in Australia. To assist fulfilling these targets a $157 million package to support renewable energy generation and storage projects has also been announced.
Storage capacity of 2.6 gigawatts (GW) of renewable energy by 2030 is one target, to be increased by 6.3 GW by 2035. That will be sufficient renewable energy to power around half of Victoria’s current homes at peak usage times.
In achieving these targets, funds will be provided for a 125MW big battery and grid forming inverter between Bendigo and Red Cliffs, a 100MW battery and inverter in Terang as well as two bioenergy projects in Gippsland and Barwon.