NSW Announces $1.5 Billion Clean Energy Superpower Fund to Fast Track Renewable Energy

New South Wales (NSW) currently has over 800,000 rooftop solar panels installed. Rooftop solar panels provide significant savings to every household of up to, or exceeding,  $600 a year off their energy bills. However, many households are unable to get the most out of their solar system due to network constraints limiting energy exported to the grid. 

To address this, a re-elected Liberal and Nationals government has set up a $1.5 billion Clean Energy Superpower Fund that consists of the Transmission Acceleration Fund and new funding that will help with the delivery of renewable energy storage and grid security projects. 

The Clean Energy Superpower Fund

The fund will help with more rooftop solar, big grid batteries, pumped hydro, and community batteries across the state. This takes the state a step closer to the government’s goal of transforming electricity system to be more clean, reliable, and affordable. 

Additionally, the government will further invest $23 million to expand their Electricity Infrastructure Roadmap, covering rooftop solar and small-scale batteries.

The new investment will also help ease local grid constraints, allowing more people to produce and share energy in the state. 

Premier Dominic Perrottet said, “The NSW Liberal and Nationals Government’s long-term economic plan includes rolling out our Roadmap—the most ambitious renewable energy policy in the nation—which is expected to attract $32 billion in private investment and support more than 9000 jobs by 2030.” 

He continued, “Chris Minds and NSW Labor talk a big game about nationalising the grid, but the reality is that this would blow a $32 billion black hole in the budget and drive up household energy bills. Only a re-elected Liberal and Nationals Government can be trusted to lower energy bills and manage the state’s economy.” 

With the Clean Energy Superpower Fund, NSW residents can expect to see more storage and network infrastructure soon. With this, it will unlock the renewable energy of the future. AEMO Services or the Australian Energy Regulator will assess projects. 

The new funding and further investments make it a great time to take advantage of solar power. If you haven’t yet, you can get started now. One of the quickest and easiest ways to save mobe on your energy bills today is to change your energy retailer–and you can do it for free. 

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A strong commitment to renewable energy

Aside from the latest funding, NSW has recently announced an $8 million pilot program for the electrification of three communities in the state. The program explores how households and communities can benefit financially from replacing fossil-fuelled devices with clean technologies. 

The government will work with the private sector. According to NSW Treasurer and Energy Minister Matt Kean, “This trial will focus on finding the best ways to save households money on their energy bills by installing zero emissions appliances and technologies. This is all about using the latest technology to give people more control of their energy bills, while contributing to NSW’s target to reduce emissions by 70% by 2035.”

The program will launch in the second half of this year, and homeowners in the selected communities may choose to volunteer. 

This comes at the right time, as Australians have the highest uptake of rooftop solar worldwide. The program, along with the recent funding in the state, will drive communities and individuals to take advantage of the available clean technologies today towards net zero. 

Energy Matters has over 17 years of experience in the solar industry and has helped over 40,000 Australian households in their journey to energy independence.

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