The renewable-energy sector is set to receive a $13 billion injection thanks to backers pouring investors dollars into new projects which is helping the NSW economy cope with the decline in coal and other mining industries.
In NSW coal remains the state’s dominant source of electricity, wind, solar and other clean-energy projects “are increasing their foot-print as technology becomes more sophisticated.” Energy Minister Anthony Roberts stated.
There are 2900 megawatts of renewable-energy projects approved in NSW and they have a potential to inject almost $6 billion into the state’s economy. – Mr Roberts.
There is a potential project which would increase input of about 5400 megawatts in the pipeline and if it goes ahead would increase the tally by another $6-7 billion.
The comments made by Mr. Roberts come as the federal government attacked Labor’s goal – endoursed by the ALP national conference at the weekend – of nearly trebling the present share of renewable energy in the power sector to 50 per cent by 2030.