The NSW Government will Encourage and Support Commercial Investment in Renewable Energy and Energy Storage Systems

The Minister of Energy of NSW has recently further promoted the implementation of the NSW government solar rebate, urging the Australian investment community to promote the state's energy transition actively and to invest in the construction of more new energy projects. The minister stated that the NSW government solar rebate would adopt renewable energy system , battery energy storage system and fast-start natural gas power plants to replace the old coal-fired power systems in the state. He also added that the NSW government would encourage and support commercial investment in renewable energy and energy storage systems.

In addition, he pointed that human activities were accelerating climate change in the earth. This kind of change poses a major risk to the prosperity and lifestyle of human society, and effective responses to climate change require more measures and actions by enterprises and governments. "The NSW government solar rebate policy also came from this. The New South Wales is the only state in Australia that has not specify a target for the use of renewable energy yet. However, the NSW government solar rebate program also has a certain impact, as the state has set a goal of achieving zero net emissions by 2050. The state government has relied on this goal to send a signal to the market to invest in zero-emission energy. New South Wales hopes to stay ahead of Australia in dealing with climate change issues. "We will act decisively." At present, people in the energy industry say that natural gas power plants, energy storage system, and renewable energy system will replace old coal-fired power system. Without being forced by the government, the economy is driving these changes to happen.

The New South Wales Government state that those coal power plants with an installed capacity of 2,000MW are expected to close by 2023. Additionally, renewable energy system and energy storage system will be used to make up for potential electricity short supplies.

The New South Wales Government pledged to provide funds to support the completion of the preparation and planning of 21 large-scale energy projects in New South Wales. The government also promised to provide funding for the feasibility study project for the mixed deployment of pumped storage system, battery energy storage system and renewable energy system.