Renewable energy zones in Australia

Country / jurisdiction: Australia · Year: 2020 · Status: In force · Level: National · Type: Voluntary

Renewable energy zones (REZs) aim to aggregate several renewable energy generators and storage facilities in a single location to benefit from economies of scale and favourable local resource and investment conditions. State governments across Australia, including New South Wales (NSW), Victoria and Queensland, have committed to developing REZs, and their respective governments have already begun consultation processes with regional stakeholders to optimise the local benefits of each project. For example, the NSW government expects that the REZs will deliver a sizeable pipeline of large-scale renewable energy and storage projects, in addition to bringing up to AUD 20.7 billion in private sector investments into the region. The four planned REZs in NSW are also expected to deliver over 6 300 construction and 2 800 ongoing clean jobs. The REZs in NSW will also lower power bills, saving the average NSW household around AUD 130 per year on its electricity bill and the average small business AUD 430 per year between 2023 and 2040.

Official source: https://www.energy.nsw.gov.au/renewables/renewable-energy-zones