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2020-01-29 12:45:00

AUSTRALIA'S RENEWABLE ENERGY: 48%

AUSTRALIA'S RENEWABLE ENERGY: 48%

ENERDATA - According to the Australian government, the country is on track to reach a 48% renewable energy share in its power mix by 2030, cutting its greenhouse gas (GHG) emissions by 23%. The Australian Capital Territory and Tasmania have already reached 100% of renewable power generation, South Australia is averaging 50% of renewable power generation and Queensland and Victoria are heading towards the 50% milestone by 2050. In addition, New South Wales is seeking to reduce coal consumption by 2030.

Australia added 6.3 GW of new renewable capacity in 2019, against 4.8 GW in 2018, according to preliminary estimates by the Clean Energy Regulator. In 2019, investment in onshore wind projects fell by 57% to US$1.6bn, and investment in utility-scale solar projects by 60% to US$1.2bn, owing to the long-term policy uncertainty.

In 2015, the previous government amended its Renewable Energy Target (RET) for renewable power generation, that was launched in 2001 and included two parts, the LRET (Large Scale Renewable Energy Target, such as wind parks, commercial solar and geothermal) and the SRES (Small-scale Renewable Energy Scheme, for households, small businesses and community groups). In 2015, the LRET was set at 33 TWh for 2020 (23% share of renewable power generation) and in August 2018, the newly-elected government decided not to replace the Renewable Energy Target (RET) "with anything" when it expires in 2020, considering that raising the share of renewables in the Australian power mix would be disastrous for the economy.

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Tags: AUSTRALIA, RENEWABLE, ENERGY, ELECTRICITY