Tasmania sets unprecedented 200% renewable energy goal by 2040

The Government of Tasmania has unveiled plans to double its production of clean power by 2040, citing several key advantages held by the island state over mainland Australia in terms of attracting clean energy investment.

The 200% renewable energy generation target for 2040 was announced by Tasmania’s Premier Peter Gutwein in his State of State Address, in which he also revealed that a renewable energy action plan will be released in April.

While traditional forms of renewable energy like wind and hydropower will form key parts of the plan, Gutwein said Tasmania will develop ‘multi-GW scale’ green hydrogen production for domestic use by 2022-2024 and for export by 2025-2027.

“Tasmania’s low cost and reliable renewable energy means that Tasmania is 10-15% more competitive than our mainland counterparts when it comes to attracting investment in green hydrogen,” he said.

The government will provide AUS$50m in support measures over 10 years to bolster and fast track the state’s green hydrogen industry, which is rapidly being viewed as a key element of the energy transition thanks to its ability to reach hard-to-decarbonise sectors such as heating and transport.

Gutwein also said that Tasmania is committed to reducing mainland Australia’s greenhouse gas emissions by exporting more renewable electricity.