Renewable Energy Index - November 2017
To assist the Australian community in understanding the role and contribution of renewable energy to meeting our energy needs while also providing an important source of employment and reducing pollution, Green Energy Markets produces the monthly Renewable Energy Index.
The index tracks the contribution of the renewable energy sector broken down by fuel type and state on a series of metrics that are intended to translate abstract concepts such as megawatts and tonnes of CO2 into concepts the community can understand and appreciate such as number of households powered, and number of cars’ pollution avoided.
Australia set to exceed the 2020 Renewable Energy Target and enough renewable energy projects now under development to deliver half of Australia’s electricity by 2030
- The 3,923 megawatts of projects currently under construction in Australia will create enough jobs to employ 13,443 people full-time.
- The capacity of renewable energy projects in operation, under construction as well as those contracted by power retailers and state governments has now reached a level that
- will produce more power than required under the Australian Government’s Renewable Energy Target.
- In addition, a huge pipeline of more than 12,000MW of wind farm sites and 15,000MW of solar farm sites have been proposed for development across Australia, of which more
- than half already have planning approvals in place. When combined with expected growth in rooftop solar, they could supply half Australia’s electricity needs in 2030.
- However most of these projects will remain dormant until the government puts its long-term Paris agreement commitments into a legally enforceable policy.
Rooftop solar installs in November reached an all time record
- Australia installed 120 megawatts of solar PV on rooftops over November which will produce an amount of power equal to the consumption of 31,543 homes while saving $225 million on electricity bills over the next ten years.
- This is the highest capacity ever installed in a month, breaking the prior record set in June 2012 when subsidies were two-to-three times higher than they are now.
- The 18,038 systems installed over November supported 5,867 full-time jobs.