State Budget supports energy transition
Minister for Energy Matt Kean said the 2019-20 NSW Budget demonstrates a strategic response to energy security and climate change to ensure NSW can transition to a cleaner energy future.
“This year’s Budget reflects the NSW Liberals & Nationals commitment to meeting our target of net zero emissions by 2050,” Mr Kean said.
“Funding will support communities throughout NSW to tap into clean energy, help homeowners take control of their energy bills, and enable more communities and businesses to adapt to a changing climate.”
Key highlights from the Budget for energy includes:
- $1.1 billion over four years to support around 900,000 low income households to manage cost of living pressures through energy rebates.
- $295.4 million under the $1.4 billion Climate Change Fund to help communities and businesses adapt to a changing climate and minimise climate change impacts.
- $65.4 million over four years to support the roll-out of 300,000 solar panel and battery systems for households under the Empowering Homes Program.
- $30 million for the Regional Community Energy Program to fund community projects in regional NSW to improve reliability and affordability.
- $30 million over four years to co-fund new on-demand clean energy projects with the private sector through the Emerging Energy Program and pilot initiatives to recycle and re-use materials in solar and battery systems.
“NSW is already embracing renewable energy and we want to make sure more households and small business are able to take advantage of this opportunity to bring their energy costs down,” Mr Kean said.
To read more about the 2019/20 NSW Budget, go here.