New A$32 billion NSW Electricity Infrastructure Roadmap
It’s been a busy couple of months in global energy and climate policy. Australia’s largest trading partners – China, South Korea and Japan – have all announced they will reach net-zero emissions by about mid-century. In the United States, the incoming Biden administration has committed to decarbonising its electricity system by 2035.
These pledges have big implications for Australia. With some of the best renewable resources in the world, we have much to gain from the transition. And this week, the New South Wales government embraced the opportunity.
Its new A$32 billion Electricity Infrastructure Roadmap will, among other things, support the construction of 12 gigawatts of new renewable energy capacity by 2030. This is six times the capacity of the state’s Liddell coal-fired power station, set to close in 2023.
The roadmap was developed by NSW Environment Minister Matt Kean through extensive consultation with industry and others, including ourselves. While we believe a national carbon price is the best way to reduce emissions, the NSW approach nonetheless sets an example for other states looking to increase renewable energy capacity.