Monday, 20 November 2017 Sydney
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Australia – Sustainable and Renewable Energy Initiatives::

Half of Australia's new power installation to be renewable until 2020

In 2007 the Government of Australia committed to ensuring that 20 per cent of Australia's electricity supply comes from renewable energy sources by 2020. In August 2009 the Renewable Energy Target (RET) was passed into legislation in Australia, committing Australia to 20% renewable sources of energy by 2020. It is estimated that this amount of renewable energy will require investment of over $25Billion in the renewable energy industry between now and 2020.

To deliver on this commitment, the Government is working in cooperation with the states and territories through the Council of Australian Governments (COAG), to implement an expanded national Renewable Energy Target (RET) (http://www.climatechange.gov.au/renewabletarget/index.html ) that will bring existing and proposed state and territory targets into a single national RET scheme.

The Federal Government’s original Mandatory Renewable Energy Target (MRET) scheme, which commenced in April 2001, places a legal obligation on wholesale purchasers of electricity to gain Renewable Energy Certificates (REC’s) for 2 per cent of the electricity they purchase. Since October 2006, when they were trading at AUD$12, the price of Renewable Energy Certificates under this original RET scheme has rapidly recovered and they now trade at above AUD$40 in anticipation of the new target of 20% by 2020. We estimate that if the target builds up in a linear basis to 2020 around 1,000MW of new renewable generation capacity will be required every year from 2009 until 2018. To consider how significant this is, Australia’s entire installed capacity of wind right now is only about 1,200MW. It will mean that around half of Australia’s new additional electricity generation will be renewable.

TECHNOLOGY INVESTMENT

Australia also announced earlier in 2009 the introduction of the ‘Clean Energy Initiative’ this initiative includes;

. $465m in funding for the newly formed ‘Renewables Australia Fund’ to support leading-edge technology research and development and bring that technology to market.

. $2.4B for low emission coal technologies, $2B of which is earmarked for industrial scale Carbon Capture projects, and;

 . $1.6B for solar technologies.

These initiatives are in addition to the 20% Renewable Energy target set for 2020 and the 5-15% carbon reduction scheme to be introduced in 2011, which should considerably boost the wind, solar, and other fledgling Sustainable Energy industries in Australia.

The flow on effect to India should not be underestimated, the tremendous changes in Australia and the size and capabilities of the Indian Sustainable Energy Industry will inevitably see opportunity for cross fertilization on many levels over the next 10 and more years.

SOLAR INITIATIVES

Recently, the states of South Australia, Queensland, Victoria and the Australian Capital Territory have announced they will implement premium feed-in tariffs for electricity exported to the grid from household solar PV systems. In addition the Labor federal government will phase out electric storage water heaters beginning in 2010, creating a large market for solar hot water.