I am absolutely delighted—or I might say totally pumped, as we do say in the west—to speak tonight on the Renewable Energy (Jobs and Investment) Amendment Bill 2019, because before being elected as the member for Tarneit in November last year I spent over a decade working on policy and regulatory reform in the energy sector. Over that time I have had thousands of conversations, from the kitchen tables of working families right through to the ivory towers of Australia’s most profitable energy networks, and we have talked about climate change, we have talked about our renewable energy future and we have talked a lot about how to get there. I have to say it is a first for me to sit in this place and actually listen to the narrow, basic, simplistic and completely—completely!—misunderstood arguments that have put forward this evening by those opposite. It actually leaves me lost for words, and I am never lost for words, so I will say it in the words of someone else, and that is John Lennon: ‘You say you got a real solution. Well, you know we’d all love to see the plan’. So let me talk about Labor’s plan and why this bill is being commended to the house.

In Victoria and the rest of Australia we have long enjoyed the benefits as an economic giant of energy and resources. We have built one of the richest and most prosperous nations on this planet and until recently used this position to establish for Australia a reputation for good global citizenship. It is a status that is now under threat as the complacency of our federal counterpart risks stagnation, stuck living in the 20th century. Through their devotion to the status quo and their apathy towards innovation, our competitive advantage in the globalised economy is now under threat.

When passed, this bill will establish a new Victorian renewable energy target of 50 per cent of electricity generated in Victoria to be generated by means of renewable energy by 2030, and in doing so we will continue to provide the confidence and the certainty new and future industries need as we navigate the major global energy transition evident around the world. A leading role in this transition means that we can seize for future generations of Victorians economic, social and environmental benefits that being an innovative leader provides. That is why I am proud to be part of this Labor government, which has shown time and time again not only that it is determined to advance the renewable energy market right here in Victoria but also that it is a government determined to steer our economy into a future where it is competitive, diversified and at the forefront of new and innovative technology. So far, our investments in wind and solar farms have produced over 3744 megawatts, with projections of over $6.7 billion in capital expenditure to be generated along with the creation of 5000 jobs across Victoria.

Now, as part of the existing Victorian renewable energy target, the reverse auction has also provided funds for six large-scale wind and solar projects in regional Victoria, producing 928 megawatts of renewable energy by 2020. It is enough to power 645 000 homes across Victoria in addition to generating $1.1 billion in investment and creating 900 jobs. Our $25 million investment in the battery storage initiative will see capacity and supply security through the largest solar farm and battery in this country. These batteries will bolster energy supply at sections of our power network that need it most, ensuring that renewable energy will be available for the prevention of blackouts and power shortages across regional Victoria and guaranteeing the integrity of the state’s energy supply—because, let me tell you, reliability is just as important as supply, and the increase of total supply of energy generated as new facilities come online provides for the future, not just today.

Victorians support new renewable energy and want to see this change. In my own electorate of Tarneit we have enthusiastically seen some of the highest uptake of this government’s Solar Homes package in the state, which—once fully rolled out in its entirety—will save Victorians $500 million a year in power bills. It is a sum not lost on the over 1 million Victorians projected to have residential solar power systems installed at their homes by 2030, because as much as the environmental and social benefits will influence generations to come, the economic benefits for the here and now make obvious sense. By increasing our renewable energy supply—a supply that is far cheaper than our fossil fuel resources—by 2030 households will be saving money on their power bills and businesses will be saving between $3100 and $150 000 a year.

In addition to this, our increased renewable energy targets are going to increase Victoria’s economic output by up to $5.8 billion by 2030, greatly supporting our local industries and supply chains. This is going to create on average 4000 full-time jobs annually, which by 2030 will be roughly 24 500 extra jobs in our renewable energy industry alone. These targets also mean that Victoria will reduce our total emissions from energy generation by 2 million tonnes of carbon dioxide a year, bringing us closer to net zero emissions by 2050. That is a key target for this government as set out under the Climate Change Act 2017.

This bill is essential to ensuring that Victoria’s record investments in renewable energy—whether it is solar, wind or battery power—continue for decades to come. This is crucial for the future of Victoria’s economy, and I am confident that this government has what it takes to make sure that Victoria’s renewable energy future is good for households, good for business and good for the environment. I commend this bill to the house.