December 3, 2021 Read More →

Australia solar and wind pushing coal from country’s generation picture

Renew Economy:

The announcement of more than 1GW of new large-scale renewable energy capacity in the third quarter of 2021 has set the scene for “a big reduction of emissions” going into 2022, as solar and wind continue to push coal out of the generation picture.

The Clean Energy Regulator’s latest Quarterly Carbon Market Report (QCMR) confirmed that a record 32% of electricity generated in the National Electricity Market came from renewable sources, taking the average renewable contribution across 2021 to 30% of all NEM generation.

A total of 603MW of new large–scale renewable energy capacity was given formal approval to generate renewable energy certificates in the third quarter of 2021, the CER said, bringing the total for 2021 to 1.2GW, a sharp decrease from the 2.7GW approved over the same period last year.

But it pointed to the “very strong result” for final investment decisions in large-scale solar and wind projects coming into the final quarter of the year, with 1.11 gigawatts of new capacity announced, in contrast to reports of a slowdown in investor activity in the sector.

“This is an important lead indicator that we can expect to see many new large-scale renewable energy power stations being constructed around the country,” said CER chair, David Parker.

[Sophie Vorrath]

More: Regulator tips “big reduction” in emissions in 2022, as renewables push out more coal

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