The nation may miss its 2030 target of 500 GW renewables capacity by over 104 GW under the current market trend.
South Australia is closing fast on its target to be powered by 100% net renewables by the end of the decade with new data revealing a combination of wind and solar energy provided a daily average of almost 70% of the state’s electricity needs last financial year.
Speaking at the Sydney Energy Forum, leaders from Australia and the US have highlighted the importance of not only transitioning to renewables, but of ensuring the supply chains used to make the technologies do not remain as concentrated as they are today.
Spanish energy and construction giant Acciona plans to massively expand its investment in Australian renewable projects over the next five years, following the new federal government’s pledge to upgrade national electricity transmission networks.
The Vietnamese government is reportedly concerned about legal action from solar investors if its new power development plan does not prove ambitious enough.
Singapore’s Energy Market Authority has already attracted proposals for 1.2 GW of renewable electricity, to be generated in four southeast Asian nations, and wants to raise that figure to 4 GW by 2035.
A coalition of renewable energy investors is calling for urgent reform of the National Electricity Market to help restore confidence among developers of large-scale wind and solar projects grappling with grid congestion and curtailment issues in Australia.
The Victorian government has published its Gas Substitution Roadmap detailing regulatory and policy reform designed to help Australia’s biggest gas-consuming state fast-track its transition towards a renewable energy future and navigate the path to net-zero emissions.
The Victorian government has opened a new round of funding for a $20 million initiative designed to support projects that create long-term sustainable jobs, increase the uptake of renewable energy generation and drive innovation in new energy technologies.
In May, Australia voted out its conservative government, which had held power for almost a decade. Instead, it turned to Labor, female independents, and minor parties with far greater climate ambitions. In short, it shifted to an entirely different approach to politics.
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