As power price hikes hit Queenslanders, new research from Queensland Conservation Council has shown that investing in more renewable energy at both a large and small scale could save up to 25% on wholesale power prices, or $200/year per household, by 2025.
QCC Energy Strategist Clare Silcock says the recent budget announcements of funding for renewable energy is a welcome sign that the Queensland Government is heading in the right direction. This report shows the benefits available if we can accelerate the build of large-scale renewable energy and storage and help households install solar and batteries.
“Many Queenslanders have seen electricity price hikes compounding cost of living pressures, from 1 July. The rebates the Queensland and Federal Governments have combined to offer are much needed in 2023. Our research proves that the long term solution is to invest more in renewable energy which will reduce emissions, bring down energy bills and improve Queenslanders’ lives.” Ms Silcock said.
“This report shows that building more large-scale renewable energy and storage, as well as programmes to install solar on rental homes and help social housing tenants manage their energy use with solar and batteries, can reduce Queensland’s overall energy costs by $1.3bn by 2025.” Ms Silcock said.
“We have seen good signs from this Queensland Budget, to provide rebates to vulnerable customers, and invest billions in renewable energy. This report shows that the faster we can move, the more benefits we can harness for Queensland. The costs of building the extra energy capacity needed could be paid off in bill savings in less than five years.” Ms Silcock said.
“We need the Queensland Government to accelerate the build of large-scale renewable energy. To do this, they need to reform the planning regulations and improve community engagement to make sure renewable energy delivers benefits for nature and communities. The Government also needs to commit to helping more households access solar and batteries through a solar for rentals scheme and a virtual power plant for social housing.” Ms Silcock said.
“Building large- and small-scale renewable energy and storage can bring and keep prices down for Queenslanders and make sure the transition to renewable energy is fast and fair.”