NT’s multi-billion dollar renewables opportunity

RENEWABLE energy could create more than $2 billion in new annual revenue and 8000 jobs for the Northern Territory, new research has found

The Northern Territory can create more than $2 billion in new annual revenue and over 8,000 new jobs by pursuing a target of 10 gigawatts of renewable energy by 2030, new research by Beyond Zero Emissions has found..

RENEWABLE energy could create more than $2 billion in new annual revenue and 8000 jobs for the Northern Territory, new research has found.

A report released by Beyond Zero Emissions (BZE) on Thursday revealed that Territorians could save up to 30 per cent on household electricity bills and 80 per cent in transport costs if the NT Government switched to a renewable energy target of 10 gigawatts by 2030 — 20 times more than it’s current target.

Chief executive Vanessa Petrie admittedly said the target was “ambitious” but that renewable energy had potential to unlock some huge opportunities and help the Territory get out of the economic slump it’s in.

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Minister for Renewables and Essential Services Dale Wakefield welcomed the BZE report as an “important step” towards realising this vision of the NT as an energy hub.

“The Government is working on a range of reforms to implement the recommendations of the Road map to Renewables report,” she said.

“Progress towards this goal is demonstrated by the $40m Katherine Solar Project and the $43m Batchelor and Manton solar farms, creating 170 jobs.”

However, Jacana Energy Board chairman Noel Faulkner said during budget estimates this week that the home solar installations rate had slowed

“The overall number of installations is coming down but it is still at reasonable growth,” he said.

“Nationally the roof top solar penetration is about 20 per cent — we are still lagging behind here at 13 per cent.”