Concept art of the initial stage of the Townsville renewable Hydrogen Hub, which is sharing $192 million, allocated in Queensland’s 2024-25 State Budget, with the Gladstone Hub. Photo: Facebook/Anthony Albanese.
A remarkable $26 billion has been invested by the Queensland Government into major renewable energy projects, including the $8.5 billion SuperGrid build.
Climate Council Head of Policy and Advocacy Dr Jennifer Rayner said Queensland was showing the kind of leadership Australia needed to power communities with cleaner, cheaper energy, and keep cutting climate pollution.
“In this make-or-break decade to slash climate pollution, we need to see all governments accelerating delivery of a bigger, cleaner grid and more zero emissions industries,” said Dr Rayner.
“A bigger, cleaner grid is the foundation for clean manufacturing, critical minerals mining and other emerging industries across Queensland, so this investment will help unlock more jobs in the regions and right across the state.
“Queensland has just pulled ahead in the states’ race to the top on climate action; let’s see other jurisdictions stepping up to meet and beat it.”
Premier Steven Miles announced the nation’s largest ever investment in renewable energy assets before releasing the 2024-25 Queensland Budget on Tuesday (11 June).
The Premier said this investment, which will use $8.686 billion in the 2024-25 financial year, was only made possible thanks to his government’s “progressive coal royalties scheme”.
Building on last year’s budget commitment of $19 billion, the new investment spread over the coming four years includes:
- $16.5 billion towards renewable energy and storage projects
- $8.5 billion to build the SuperGrid, including Copperstring and renewable energy zones
- $500 million for network batteries and support of local grid solutions
- $192 million for the Transmission and Training Hubs in Townsville and Gladstone.
Energy and Clean Economy Jobs Minister Mick de Brenni said Queensland had much to protect in traditional industries, and they could if they decarbonised.
“This budget ensures that Queensland will have the most desirable products, because they’re made with clean energy,” said the Energy Minister. “We’ll grow our exports, resulting in more jobs and more prosperity.
“We can protect jobs in industries like smelting, beef, and cotton, and we can create new industries which serve a decarbonising global economy – things like critical minerals, hydrogen, and sustainable aviation fuel.”
Queensland has committed in law to achieving its 2035 targets for a 75 per cent reduction in emissions and 80 per cent renewable energy.
Modelling from Deloitte Access Economics found Queensland could lose 87,000 more jobs by 2035 if it fails to meet the target.
By 2050 the state would be expected to miss out on 145,000 jobs and $430 billion.
The State Government said 85 per cent of those jobs would be in the regions creating industries in critical minerals, advanced manufacturing, hydrogen and sustainable aviation fuels.
