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| Large-scale solar's contribution to the grid is just beginning to soar. Photo: Supplied |
Talking points
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The progressive think tank's latest energy and emission audit found renewables including hydro and rooftop solar generated a record 25.6 per cent of electricity supplied to the market that serves about four in five Australians.
Clean energy's share of total grid supply for the 12 months to August was 16.1 per cent, beating the previous peak reached in the 12 months to 2014 when hydro plants went full-bore to take advantage of the carbon price before its scrapping by the Abbott government.
When rooftop solar is added, the 12-month share rose to 19.7 per cent - or not far shy of the 2020 Renewable Energy Target set for large-scale renewables.
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| Source: The Australia Institute |
Victoria's price of $79 per MW-hour was next lowest among mainland states. Renewable projects are surging in that state, with their share of supply jumping by a half in three years from 12.3 per cent to 18.9 per cent.
NSW had the most expensive wholesale power last month at $82 per MW-hour. Clean energy - including hydro running hard - reached only 14 per cent of supply in the state. NSW sources 12 per cent of its power from Victoria or Queensland, the report found.
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| There were record levels of renewable energy in August. Photo: Supplied |
Dr Saddler said since the end of April, new wind farms had lifted capacity by 14 per cent while new solar farms had almost doubled capacity, though from a much smaller base.
"There's no sign of any slowdown of new projects coming on line," he said, noting these would include the 928 MW of new capacity announced last week by the Andrews government as part of its Victorian Renewable Energy Target.
Over the next two years new renewables would increase capacity by almost a 10th, or the equivalent of twice the size of AGL's ailing Liddell coal-fired power plant, the report estimates.
Despite the surge in renewables, the Morrison government continued to discuss the prospect of new coal-fired power stations, a stance at odds with market trends.
"The future is about coal - but about when the coal-fired power stations close," Dr Saddler, who is also an honorary professor at the Australian National University, said.
The rise of renewables meant emissions from the electricity sector continued to retreat, with wind and solar nudging out black coal-fired power. Still, rising fossil fuel use in the transport sector meant total energy combustion emissions "are basically flat", he said.
'Bodyblow'
In a separate blow to coal-fired power, Japan's Marubeni Corporation, one of world's largest developers of coal plants, was reported to be withdrawing from new projects.
Japan's Nikkei said Marubeni would also halve the ownership of plants it already held by 2030 and accelerate its shift to renewable energy.
Tim Buckley, an analyst with anti-fossil fuel group the Institute for Energy Economics and Financial Analysis, said the news that Marubeni was shifting its global weight behind renewables was "a bodyblow to the global coal industry and a profoundly important endorsement of the aims of the Paris Climate Agreement".
"It is inevitable that other global coal plant developers like POSCO of South Korea, Siemens of Germany and GE of America will be forced to evaluate their own position in light of Marubeni’s decision," he said.
Links
- Labor offers a $4838 battery bonanza for homes with solar panels
- ACT becomes first in Australia to join UN's Powering Past Coal Alliance
- Renewables Forecast To Halve Wholesale Energy Prices Over Four Years
- Most Australians Want More Renewables To Help Lower Power Prices – Poll
- Life After Coal: The South Australian City Leading The Way
- New Coal Doesn’t Stack Up – Just Look At Queensland’s Renewable Energy Numbers
- How Australia Will Get To 33% Renewable Electricity By 2020
- Coal To Be Kaput In Australia By 2050, As Renewables, Batteries Take Over
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