The NSW Liberal Party, Labor Party and Greens have all agreed on something - and it's good news for new energy
Yesterday, the NSW Upper House passed the State Government’s renewable energy bill.
The opposition Labor party support it. The Greens support it. It’s set to become law. Here’s everything you should know about the new energy plan.
First, this is what the State Government promises to get out of the bill:
$32 billion of private investment in renewable energy over the next decade
6,300 construction jobs and 2,800 ongoing jobs
$130 cheaper electricity bills for households
$430 cheaper electricity bills for small businesses
Renewables are cheap, but to make them as reliable as coal, you need storage. Most commonly, storage comes in the form of a massive battery - like South Australia has - or pumped hydro.
The NSW plan attempts to build the state’s renewable energy output, while at the same time encouraging new storage projects. The plan has two prongs.
Financial support for new wind and solar projects over the next decade
Financial support for new storage projects - largely pumped hydro
Who supports the plan?
The NSW Greens, who say it’s “a decent first step”.
The Australian Workers Union, who says it’s a “starting point”.
Left-wing think tank the Australian Institute, which says the NSW Government has “delivered” with the plan.
Who’s against it?
One Nation’s Mark Latham, who introduced 249 amendments in the NSW Upper House in an attempt to delay the bill.
Federal Energy Minister Angus Taylor, who says it could lead to “a premature closure of coal-fired power stations”.
Former Federal Nationals leader Barnaby Joyce, who says the bill is “actually a carbon tax”.