New South Wales risks missing out on the rewards of a faster transition to renewable energy and meeting its energy goals unless it makes amendments to its planning framework, an Australian clean energy investment body argued.
According to the Clean Energy Investor Group (CEIG), the draft planning framework needs significant reforms to ensure NSW can attract investors and NSW can meet its renewable energy targets.
In December 2023, CEIG released a report that looked into the NSW planning approvals process to inform the Delivering Major Clean Energy Projects in NSW report.
The analysis, titled “Delivering Major Clean Energy Projects in NSW,” found that average approval times for the development of renewable energy projects in the state have blown out or lagged behind other Australian jurisdictions.
This lag results in a delay in NSW’s efforts to achieve a 70 per cent cut in emissions by 2035.
Simon Corbell, CEO of CEIG, said the draft planning framework lacks an expedited assessment process for clean energy and transmission projects, reduced costs, and increased certainty for investors that NSW needs.
“The very real risk is that investors will look elsewhere and NSW won’t meet its emission reduction targets. CEIG recognises this is due to the 10 years of inaction on the part of the previous NSW government, nevertheless it is a critical issue that now needs to be addressed.” Corbell said.
Corbell argued that the NSW government can expedite major clean energy projects by tapping into the existing critical state significant infrastructure declaration process and streamlining the development application process.
“We can have our cake and eat it too on renewables – good quality consultation, robust approvals process and meeting our clean energy targets are all within our grasp,” Corbell added. “Investors want it, voters want it and the planet simply cannot wait for unnecessary bureaucratic red tape to be taken out of the equation.”
