Queensland’s Budget 2018-19 released on Tuesday 12 June 2018, has a wide spectrum of investments to guide the State on a pathway to a zero net emissions future, as outlined in the Queensland Climate Transition Strategy. Most notable is the continued support for renewable energy, with “a pipeline of over $20 billion” and “almost $4.2 billion underway or financially committed.”
The significant four-year infrastructure spend of $45.8 billion (including Cross River Rail, highway upgrades and rail duplication) is also important in the context of climate change mitigation (net zero emissions by 2050) and adaption requirements being integrated into the infrastructure policy framework.
Finally, the budget has taken important steps to advance new technologies with support given to solar thermal, waste to energy and an investigation of hydrogen supply:
- $50 million capital grant to support concentrated solar thermal with storage projects.
- $5 million for urban waste to energy projects.
- $750,000 reprioritised to investigate hydrogen supply.
Other relevant announcements for energy and climate change are presented below:
- $1.7m for Reef Island Decarbonisation to assist the Great Barrier Reef Islands to cut their emissions by developing business cases for solar, wind and gas generation.
- $25m (over three years) to establish a Reef Resort Rejuvenation Fund to deliver infrastructure for Great Barrier Reef islands focused on cleaning (removing building demolition post cyclones), greening (fostering eco-tourism experiences, energy efficiency and renewables) and growing (encouraging common user infrastructure for tourists and locals).
- $3.9m secured for funding EcoBiz (until at least 2021-22), currently under the administration of the Chamber of Commerce & Industry, Queensland.
- $97 million (over three years) for the Advancing Clean Energy Schools program for solar and energy efficiency measures
- $5.6 million increased funding (over four years) to enhance and strengthen delivery of the Queensland Climate Change Response (development and implementation of the Government Adaptation Action Plan).
- $38 million to establish the Disaster Resilience Fund (over four years) to assist local governments, state agencies and non-government organisations to deliver mitigation and resilience projects.
You can read more on the Budget highlights via this link.
Energetics will keep you informed as developments arise. If you have any questions or comments in the meantime, please contact the author or any one of our experts.