SUBSCRIBE
PROFILE

Australia: $3.5 billion for climate and energy in the 2024-25 budget

The Minns Government is allocating $3.5 billion in the 2024-25 budget to strengthen NSW's energy system and support households in their energy transition.

Share:

Transition énergétique NSW

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 $*

then 199 $/year

SUBSCRIBE — 99 $ for the 1st year

Create a free account to read this article

*renews at 199$/year, cancel anytime before renewal.

The Minns Labor government is allocating a total of $3.5 billion in the 2024-25 budget for the climate and energy sectors. This decision is designed to ensure a reliable and secure energy system for New South Wales (NSW).

Key budget allocations

The 2024-25 budget includes $238.9 million for the Consumer Energy Strategy. This initiative aims to help households modernize their homes, making them more energy-efficient. To improve infrastructure, $128.5 million will be invested over two years to upgrade roads and infrastructure linking the Port of Newcastle to regional renewable energy zones. This will make it easier to transport the components needed to build energy infrastructures.

Financial support and energy security

In 2024-25, $435.4 million will be allocated to increase the value of energy bill reductions, helping households cope with the cost of living. A $10 million pilot program will provide assistance for people in critical need. In addition, $15.8 million will be invested to increase electrical safety inspections of domestic installations. In addition, $87.5 million over four years will be devoted to energy upgrades for social housing.

Investment in renewable energies

The budget includes $3.1 billion for the implementation of NSW’s renewable energy zones. The aim is to integrate more clean energy into the grid, while creating stable jobs in local communities. 87.5 million will be invested in energy upgrades to social housing properties, to reduce energy costs for residents.

Legislative reforms and regulations

The NSW Government will introduce new legislation to strengthen environmental protection and reform biodiversity offsetting schemes. This includes reforms to the Biodiversity Conservation Act 2016 and the Protection of the Environment Operations Act 1997.

Workforce development

The NSW 2030 Renewable Workforce roundtable brought together stakeholders to discuss the strategies required for the energy transition. This event aims to support local job creation in the renewable energy sector. The recommendations from this roundtable will contribute to the NSW 2030 Renewable Workforce Plan, aimed at providing the skills and training needed to support the energy transition. Current initiatives include $275 million in grants for the Net Zero Manufacturing Initiative and new microskills courses at TAFE NSW.
These investments and initiatives represent a significant step towards a sustainable energy future for NSW, promoting job creation, environmental protection and supporting households in their energy transition.

  • Popular on energynews.pro
India diversifies coking coal purchases, Australia retreats
Quebec allocates $1.5M to meet the demand for wind turbine technicians
Equinor, Shell and TotalEnergies launch the first subsea CO2 injection in Norway
Guidehouse forecasts $8.1 billion revenues for modular reactors by 2034
AMIGO LNG signs 15-year deal with Macquarie for 0.6 MTPA of LNG
Brazil dismantles criminal fuel network worth BRL52bn
Brazilian authorities have launched a large-scale operation targeting a money laundering system linked to the fuel sector, involving investment funds, fintechs, and more than 1,000 service stations across the country.
Natural gas and solar receive broad support across the United States
A national study by the Davies Group reveals widespread American support for the simultaneous development of both renewable and fossil energy sources, with strong approval for natural gas and solar energy.
Seoul Imposes 25% Cut in Petrochemical Capacity to Stabilize the Sector
The South Korean government compels ten petrochemical groups to cut up to 3.7 million tons of naphtha cracking per year, tying financial and tax support to swift and documented restructuring measures.
Washington extends emergency orders to strengthen Puerto Rico’s power grid
The U.S. Department of Energy has extended until November the emergency measures aimed at ensuring the stability of Puerto Rico’s power grid against overload risks and recurring outages.
Modi Defends India’s Energy Autonomy Amid U.S. Tariff Pressure
Under threat of increased U.S. tariffs, New Delhi is accelerating its energy independence strategy to reduce reliance on imports, particularly Russian oil.
800-Million-Dollar Agreement: Tsingshan Triggers an Energy Recomposition in Zimbabwe
With a new $800 million investment agreement, Tsingshan expands the Manhize steel plant and generates an energy demand of more than 500 MW, forcing Zimbabwe to accelerate its electricity strategy.
United States: Batteries Offset Solar and Wind Slowdown in 2025
U.S. electric storage capacity will surge 68% this year according to Cleanview, largely offsetting the slowdown in solar and wind projects under the Trump administration.
Massive power outage in Iraq after losing 6,000 MW of capacity
A nationwide blackout left Iraq without electricity for several hours, affecting almost the entire country due to record consumption linked to an extreme heatwave.
US Investigates Solar Imports from India, Indonesia and Laos
Washington launches antidumping procedures against three Asian countries. Margins up to 190% identified. Final decisions expected April 2026 with major supply chain impacts.
Russian oil and gas revenues fall by 27% in July 2025
Revenues generated by oil and gas in Russia recorded a significant decrease in July, putting direct pressure on the country’s budget balance according to official figures.
United States reaches two historic electricity demand peaks in July 2025
U.S. electricity consumption reached unprecedented levels in the last week of July, driven by a heatwave and the growth of industrial activity.
New York Power Authority unveils 7GW plan for public investments in renewable energy
The New York Power Authority targets nearly 7GW of capacity with a plan featuring 20 renewable projects and 156 storage initiatives, marking a new phase for public investment in the State.
French Guiana targets electric autonomy with 120 MW biomass plant by 2026
French Guiana plans to achieve a fully decarbonised power mix by 2027, driven by the construction of a biomass plant and expansion of renewable energy on its territory.
Ember: Slow national ambitions hinder global tripling of renewables
The progress of national targets for renewable energy remains marginal, with only a 2% increase since COP28, threatening the achievement of the tripling of capacity by 2030 and impacting energy security.
Department of Energy report questions economic impact of CO2 and reach of US climate policies
A Department of Energy report states that US actions on greenhouse gases would have a limited global impact, while highlighting a gap between perceptions and the economic realities of global warming.
The MENA renewable energy market will reach USD59.9 bn in 2030 driven by hydrogen and solar
Investments in renewable energy across the Middle East and North Africa are expected to reach USD59.9 bn by 2030, fuelled by national strategies, the rise of solar, green hydrogen, and new regional industrial projects.
Global electricity demand set for robust growth until 2026 despite economic pressures
Global electricity demand is projected to grow steadily through 2026, driven by industrial expansion, data centres, electric mobility and air conditioning, with increasing contributions from renewables, natural gas and nuclear power.
Electricity demand reaches 2,362 MW in Kenya as KenGen focuses on renewables
Kenya registers a historic record in electricity consumption, driven by industrial growth and a strong contribution from geothermal and hydropower plants operated by Kenya Electricity Generating Company PLC.
European industrial energy demand hits new low in 2023
Final energy consumption in the European industrial sector dropped by 5% in 2023, reaching a level not seen in three decades, with renewables taking a growing role in certain key segments.
France: RTE launches public debate over €90 billion grid investment
Réseau de transport d’électricité is planning a long-term modernisation of its infrastructure. A national public debate will begin on September 4 to address implementation methods, challenges and conditions.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: $99 for the 1styear year, then $ 199/year.

SUBSCRIBE - €99