Renewable Energy Target set to be exceeded
The Clean Energy Regulator has announced that there is now enough new renewable energy project capacity under construction or already built to meet the Australian Government's Renewable Energy Target of 33 000 gigawatt hours of additional renewable energy generation by 2020.
According to its May market update, there's now 6553 megawatts of capacity from new renewable energy projects under construction or already built. 6400 megawatts of capacity is required to meet the 2020 Renewable Energy Target.
There is an additional 1454 megawatts of projects subject to power purchase agreements that are likely to be fully financed and under construction this calendar year.
The agency noted that ghere has been a surge in applications for accreditation of commercial and industrial solar systems – those sized between 100 kilowatts and one megawatt – and there are currently 100 applications on hand with a cumulative capacity of 25 megawatts – the equivalent of a utility-sized power station.
“Based on information from discussions with installers, we expect that there could be more than 130 megawatts of these projects applying for accreditation this year, about five times more than last year.”
The agency said it was “confident that, based on firmly announced projects, at least 2600 megawatts of new capacity will be accredited in 2018 and at least a further 3500 megawatts in 2019.”
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