A re-elected Andrews Labor Government will increase Victoria’s Renewable Energy Target (VRET) to 50 per cent by 2030, creating thousands of jobs across regional Victoria, putting more energy into the grid, increasing investment and driving down energy prices.

This builds on Labor’s VRET legislation that will ensure that 25 per cent of our electricity generation comes from renewable sources by 2020, and 40 per cent by 2025. It’s expected that these targets will help deliver around $9 billion of investment and create more than 11,000 jobs over the life of the scheme, many of which will be in regional Victoria.

As well as jobs, the VRET will put more energy into the grid – delivering up to 5,400MW of new, large scale renewable energy capacity by 2025.

The Liberals have promised to scrap the VRET, which would not only result in job losses in regional Victoria and billions of dollars of investment that will never reach the state, it would also see higher energy prices.

Boosting the VRET builds on the Government’s work to cut power bills for regional Victorians, from the $50 Power Saving Bonus, to subsidising solar panels and installing batteries or hot water systems on 720,000 houses across the state through the Solar Homes program – driving down energy prices and greenhouse gas emissions.

In a major win for regional renters, a re-elected Labor Government will expand the half-price solar panel rollout by investing $82 million over 10 years to provide an additional 50,000 rebates on solar panels for Victorian renters.

Renters will make a 25 per cent contribution toward the cost of installation through a small levy on rent spread over four years, with a re-elected Labor Government and the landlord to cover the rest.

For a $4,000 panel, for example, Labor will cover half, the landlord will invest $1,000 over time, and renters will pay a monthly levy totalling $250 per year for four years. The installation of solar panels will save renters up to $890 on their power bills every year, while landlords will benefit by getting panels at low cost.

Owners corporations will also be eligible. In order to receive the 50 per cent rebate and no-interest loan, they will need to demonstrate that the benefits of installing solar panels will be passed on to tenants.

Jeff Kennett and the Liberals privatised Victoria’s power industry, promising competition would lead to cheaper electricity prices, but the only winners are the big energy companies making big profits while Victorians pay higher prices.

Only Labor is delivering new, clean energy, driving down energy prices for Victorian families and businesses.

Quote attributable to Minister for Regional Development Jaala Pulford

“Labor’s VRET has helped create a jobs boom in regional Victoria and boosting it further will see even more jobs created across our state.”

Quote attributable to Labor Candidate for Wendouree Juliana Addison

“We’re putting the power back in the hands of regional Victorian families and helping them save hundreds of dollars on their electricity bills each year – and we’re now ensuring those who rent reap the same rewards.”

Quote attributable to Labor Candidate for Buninyong Michaela Settle

“Only Labor is creating new jobs and investment in regional Victoria while driving down power prices for families and businesses.”