South Australia has a once in a generation opportunity to reverse the privatisation of our electricity system and become the renewable energy super power of Australia.
As the cost of batteries, solar, and wind continue to drop, while new technology allows for grid stabilisation without the need for gas, now is the time for a massive public investment in renewable energy generation and storage.
The Greens will:
Revive the Electricity Trust of South Australia as publicly owned generator, as well as sole retailer and network provider
Invest $8.7 billion over four years in 7125MW of publicly owned renewable energy and storage
Create 9,600 jobs a year installing and maintaining solar, wind and battery storage
Set aside $2 billion of the investment to provide free solar and storage for 200,000 renters, social housing and low income households
Publicly Owned Renewable Energy
The South Australian Greens will take advantage of record low interest rates to invest $8.7 billion over four years in 7125MW of publicly owned renewable energy and storage, creating 9,600 jobs a year, cutting electricity bills and helping reverse the privatisation of South Australia’s electricity system. $2 billion of the investment will be set aside to provide free solar and storage for renters, social housing and low income households.
A massive investment in public owned renewable energy will allow South Australia to transition faster, cheaper and with more jobs
than relying on the private market.
The massive investment will allow South Australians to gain a 50% ownership over our electricity generation, ensuring the private corporations don’t reap the benefits.
The investment would be managed, run and owned by the revived Electricity Trust of South Australia. Unlike the private corporations who make millions of dollars in profit overcharging us on our electricity bills, ETSA will be directed to run at cost to cut bills for South Australians.
Free solar and storage for renters, social housing and low income households
Electricity Trust of South Australia will set aside $2 billion to provide grants to renters, low income households and social housing tenants to install solar and battery storage systems. ETSA will install the systems in 200,000 households over four years.
Electricity Trust of South Australia will retain ownership over the household systems with 50 percent of revenue going to households to cut energy bills and 50% going to pay off the investment over
time and cover any maintenance costs.
Renters will be able to apply for the free grant with the consent of the landlord. If the renter moves out the revenue will go to the next tenant.
Every solar system installed will include battery storage to help ensure the stability of the South Australian grid.
How we will pay
ETSA will invest $8.7 billion over the first four years in publicly owned generation. The plan will be funded via Government bonds, taking advantage of record low interest rates, which will be paid off over time via the revenue raised from the publicly owned generation.