In the first six months of 2024, the Clean Energy Regulator (CER) reported that it approved 1.5GW of large-scale renewable power station capacity, with an additional 2.5GW of applications under assessment by the end of Q2 2024. This marked a significant increase compared to the previous year.
During this period, there was also a notable rise in final investment decisions for large-scale renewables, with 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, 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, a non-profit organization, projected that Australia – known for being a global leader in rooftop solar PV installations – could add an additional 26.4GW by 2030, bringing 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 AU$1,500 (US$1,021) each – amounting 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 saw
277MW installed according to solar consultancy SunWiz
there was
What is Australia’s target for adding renewable energy capacity by 2024?
Australia’s Ambitious Plan: 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 plan, which is part of the country’s larger effort to transition to a low-carbon economy, involves significant investments in solar, wind, and other forms of clean energy. In this article, we will explore the details of this plan, the technologies involved, and the potential impact it could 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 an important step towards meeting the country’s climate goals. As part of this plan, the government has committed to funding 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 key technologies will play a crucial role in helping Australia achieve its renewable energy targets. These include:
Solar Power: Australia is blessed with abundant sunlight, making it an ideal location for large-scale solar power projects. The government’s plan includes significant investments in solar farms, which will harness the sun’s energy to generate electricity for homes, businesses, and industries.
Wind Power: Wind energy is another key component of Australia’s renewable energy plan. 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 is also investing in battery storage technology. These large-scale batteries will store excess energy generated by solar and wind farms, allowing it to be used during times of high demand or when renewable sources are not producing power.
The Potential Impact
The addition of 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, helping the country meet its climate targets and reduce its impact 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 will enhance its energy security and resilience.
Job Creation: The development and deployment of renewable energy technologies will create new jobs and economic opportunities across the country, from construction and installation to ongoing operations and maintenance.
Practical Tips and Case Studies
As Australia works towards adding over 7GW of renewable energy by 2024, there are practical steps that individuals, businesses, and communities can take to support this transition. Consider the following tips:
Invest in Solar: Installing solar panels on your home or 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 initiatives.
Advocate for Policy Change: Stay informed about renewable energy policies and advocate for supportive measures at the local, state, and national levels.
It’s also valuable to look at case studies of successful renewable energy projects in Australia and around the world. These examples can provide valuable insights and lessons learned for future initiatives.
Australia’s plan to add over 7GW of renewable energy by 2024 represents a significant step towards a more sustainable and low-carbon future. By leveraging key technologies like solar, wind, and battery storage, the country is 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 a meaningful difference in the transition to renewable energy. Let’s work together to build a brighter, cleaner future for Australia and the world.
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