November 24, 2020

Australia Wind and Solar energy booms with newly installed records

2 min read

The Australian government’s data released the past week on the clean energy Regulator shows 6.3 gigawatts of new wind and solar energy, equivalent to four plants that produce electricity by coal. The solar and wind energy installation will be countrywide, making renewable energy to increase rapidly in Australia.

The set record is similar to that of last year and five times more than the installation that occurred in 2016. The NSW (New South Wales) government, Victorian and Queensland, are developing renewable energy zones within the regional areas to increase developers’ confidence to easily connect to the grid, which was not guaranteed in the past days.

The labor government of Queensland and Victoria has plans to purchase power from renewable sources on a large scale at a fixed price, which will provide revenue assurance that helps the companies to have a secure source of finance in a market with troubled investment.

In the past week, Andrews’s government said it would sign up 600 megawatts through the renewable energy auction program. The auctioning follows the 927 megawatts backed in the year 2017. The two rounds will support clean energy, equivalent to the giant Hazelwood coal plant’s capacity, which closed four years ago.  

The Minister in Charge of Energy, Environmental and Climate Change in Victoria, lily D’Ambrosio, in a statement said the auction is part of the global demand on what she referred to as green recovery programs. The primary purpose is to help economies to stabilize after the effect of the coronavirus pandemic.  It is best for most economies and will produce more affordable and reliable energy for homes across Victoria.

Though there is still some relative infancy that large lithium batteries, which will store and provide part of the flexible energy supply needed to underpin other wind and solar, are winning more support at an unheralded rate. The first owner of the giant battery farm in South Australia at Hornsdale said it had completed 50 percent expansion. Queensland, NSW, and Victoria have various battery development projects that are undergoing. Most significant companies face pressure from multiple shareholders to develop strategies that deal with the climate change crisis, and it should back clean energy. Mining and BHP had an agreement to source half of its Energy from Queensland solar and wind energy.