Investing in a sustainable future

Victoria is a leader in energy transition and emissions reduction

Victoria is taking bold action, accelerating progress towards a mix of smaller-scale renewable generation and storage assets, offering significant environmental and economic benefits.

Major government investments, industry expertise, and one of the world’s fastest growing startup ecosystems are driving generational change in the way we generate, use, and invest in energy.

With a long-term vision and commitment, Victoria is leading the nation with ambitious legislated targets of 95% renewable electricity generation by 2035, an energy storage target of at least 6.3 gigawatts (GW) by 2035, and economy wide net‑zero emissions by 2045.

Our advanced manufacturing capability, world-class research facilities, and innovation credentials position the state to seize sustainability and economic opportunities.

Melbourne’s position as one of the world’s most liveable cities is evidence of Victorian expertise in innovation in urban planning, water management, biodiversity, and cleantech. Our reputation in these areas places us well to support the unprecedented scale of infrastructure development and urban renewal that is underway globally.

Fostering dynamic renewable and green tech industries

With abundant renewable resources, sophisticated supply chain capabilities and a strong economy, Victoria is one of the Southern Hemisphere’s fastest-growing destinations for renewable energy investment.

The re-established State Electricity Commission is providing sector leadership to accelerate energy transition, with an initial $1 billion in funding to invest towards 4.5 GW of renewable energy.

Victoria is partnering with industry to implement large-scale battery projects and investing in network infrastructure to unlock further renewable energy investment.

Australia’s first offshore wind industry is being developed in Victoria, with a skilled regional workforce, a track record of renewable energy project delivery and the largest declared offshore wind energy area in Australia.

Industry players - from startups to major corporations - are active partners in sector development. Victoria’s supportive business environment and the presence of numerous leading global accelerators further drives entrepreneurship and innovation.

Victoria’s renewable energy workforce is being supported with the skills to deliver evolving technology opportunities with our top-ranking universities and strong vocational education and training options.

Harnessing innovation in renewable tech to empower consumers

As Victoria’s energy market transitions to a more diversified mix of renewable sources, targeted support will accelerate innovation, and empower consumers to make more sustainable choices - all while ensuring reliable, affordable and zero-emissions energy.

The Victorian Energy Innovation Fund supports the commercialisation of emerging and innovative technologies and projects in offshore wind, bioenergy, large-scale battery, and renewable hydrogen projects. This generates further investment opportunities across renewable energy subsectors including generation, transport, and storage.

Victoria also supports investment in solar panels, home batteries and zero emissions vehicles (ZEV) owned by consumers to generate, store, manage or sell energy.

Victoria’s $1.3 billion Solar Homes Program is one of the most ambitious and transformative renewable energy programs in Australia, empowering consumers to be early adopters
of green tech.

Victoria’s ZEV roadmap will get the state ZEV-ready and create demand for around 3.4 million ZEVs by 2045.