In â¢the first six months​ of 2024,⤠the Clean Energy Regulator⢠(CER) reported that it approved 1.5GW of large-scale â¢renewable power station â¤capacity, with an additional 2.5GW of applications under assessment by the end of Q2 2024. This marked a significant increase compared â£to the previous year.
During this period, there â¢was also a notable rise in final investment†decisions for large-scale renewables, with â£a total​ capacity of 1.8GW reaching this crucial milestone. This surpassed the 1.6GW that had reached a final investment decision in 2023.
While utility-scale renewable energy installations have‌ experienced success, â¢rooftop solar PV has emerged as a particularly strong contender in the Australian†market. Recent coverage from PV Tech highlighted its potential to overtake coal-fired power stations by the end of the decade.
The Climate Council, â¤a non-profit​ organization, projected that Australia – known for being a global leader in â¢rooftop solar PV installations – could add an â¤additional 26.4GW by 2030, â¢bringing â€its total capacity to an impressive 49.4GW.
Currently boasting approximately 3.6 million households with rooftop solar PV systems installed, Australia’s households are ‌enjoying average annual savings of around â€AU$1,500 (US$1,021) each – amounting â€to collective savings totaling around AU$3 billion per year.
Furthermore,
monthly⢠installation rates for solar ​PV have consistently remained above the
250MW mark in Australia.
August â¤saw
277MW installed according â¤to solar⢠consultancy SunWiz
there was
What is Australia’s ‌target for adding renewable energy capacity by 2024?
Australia’s Ambitious Plan: â¤Adding†over 7GW of Renewable Energy by 2024
Australia has ​set ​an ambitious target to add over 7GW of renewable energy to its grid by†2024. This â¢plan, which is part of the country’s larger effort to transition to a low-carbon economy,⣠involves significant investments in â€solar, wind, and other forms of clean energy. In this article, we will â¤explore the details of this plan, the†technologies⢠involved, and the potential â¤impact ​it could â¤have on ‌Australia’s energy landscape.
The ‌Scope of the Plan
The Australian government’s plan to‌ add over ​7GW of renewable energy capacity by 2024 is â¤an important step towards ‌meeting⤠the country’s climate⣠goals. As part of this plan, the government has committed to â¢funding â£and supporting a wide range ‌of†renewable energy projects, including large-scale solar farms, wind farms,​ and battery storage⣠systems.​ These projects will not only​ help ‌reduce⣠Australia’s carbon emissions but also contribute to†the country’s‌ energy security and resilience.
Key Technologies Involved
Several â€key technologies⣠will play a crucial role in​ helping Australia achieve its renewable energy targets.​ These â£include:
Solar⤠Power: Australia ‌is blessed ​with abundant sunlight, making it⤠an ideal location for​ large-scale⢠solar power â¤projects. The government’s plan includes â¤significant investments in solar farms, which will harness ‌the â¢sun’s energy to generate electricity â¤for homes, businesses, and industries.
Wind Power:⣠Wind energy is another key ​component of Australia’s renewable​ energy plan. â¤The country’s vast coastline and open plains provide ample opportunities for developing wind farms, which will harness the power of the wind to generate clean, renewable electricity.
Battery Storage: To ensure the stability and reliability of the grid, the government â¤is also investing in battery storage technology. These†large-scale ‌batteries will â¤store excess energy‌ generated by solar and wind farms,⢠allowing â€it to be used during ‌times ‌of high demand or when â£renewable sources are not producing power.
The Potential Impact
The addition of â¢over 7GW⣠of renewable⢠energy capacity will⣠have several important benefits ​for Australia:
Reduced†Carbon Emissions: By increasing the share of ​renewable energy in its†energy mix, Australia will be able to significantly reduce its carbon emissions, â€helping the country meet its climate targets â£and reduce its impact â£on†the environment.
Energy Security: Renewable energy sources like solar and wind†are abundant and inexhaustible, making​ them a more secure and reliable source of energy compared to traditional fossil fuels. By expanding its renewable energy capacity, Australia â£will enhance its energy security and resilience.
Job Creation: The development â€and deployment‌ of renewable energy technologies will create new jobs and economic opportunities across the â¤country, â£from construction and⢠installation â¢to ongoing operations and maintenance.
Practical â¤Tips â€and Case Studies
As Australia works towards adding⢠over 7GW of renewable energy â¤by 2024,⤠there are practical steps that individuals, businesses, and communities â¢can take to support this ​transition. Consider the⣠following tips:
Invest in⢠Solar: Installing solar panels on your home ​or â¢business is a great way to contribute to Australia’s renewable energy goals while also saving money⣠on your electricity bills.
Support Renewable Energy Projects: Consider investing in or supporting renewable energy projects in your area. This could involve purchasing shares in‌ a⣠community-owned solar farm or supporting local wind power â£initiatives.
Advocate for⤠Policy⢠Change: Stay informed â€about renewable⤠energy policies ‌and â¤advocate for supportive measures â€at the local, â€state, and national levels.
It’s also valuable to â¢look at case studies of successful‌ renewable⣠energy projects in Australia and around the â€world. These examples‌ can⤠provide valuable ​insights⢠and lessons learned for future initiatives.
Australia’s plan to â£add over 7GW of renewable energy by 2024†represents a significant step towards a more â£sustainable and ‌low-carbon⣠future. By leveraging key technologies like solar,⣠wind,†and â£battery storage, ‌the country is â¤poised to make a meaningful impact ​on⤠its ​energy landscape. As individuals, businesses, and communities, there⢠are ‌practical steps we⤠can take to support this transition and‌ contribute‌ to a cleaner and more sustainable energy future for ​Australia.
Remember that every ‌small action adds up, and ‌together, we can make â¢a meaningful difference in the transition to renewable energy. Let’s work together⢠to build a brighter, cleaner future for Australia and â£the world.
a
7% month-on-month decrease â¤compared
to July,
where
302MW​ was installed and achieved
the highest record level for mid-year
.
Furthermore,
Australia has significant potential
bring its total capacity can be expanded to ‌aroundâ£
103 GW​ estimated future⣠installation can⢠be four times greater than current levelsera which is four⢠times higher than
This signifies opportunity placesrooftop solar’s capacity electricirty supply generator utilities
national electricity market ​netowkrpowering comprising​ ​
the â¢entire east coast and Sino-Tasmanian regions combined.
