In recent years, Australia has made significant strides towards increasing its reliance on renewable energy sources. As of 2022, the country has made significant progress in transitioning from fuel fossils, specifically coal and gas, towards renewable options such as solar, wind, and hydroelectric power.
Victoria has started shutting down all coal-fired power facilities over the next ten years and replacing them with sustainable energy sources to safeguard the local populations and prevent the worst impacts of climate change.
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Image&Source: 1News
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Image&Source: 1News – Penelope Crossley, an expert in energy and resource law at the University of Sydney
“The amount that we invest is actually going to have to double by 2030 to hit the 82% target that we’re aiming for to meet our Paris reduction,” Penelope Crossley, an expert in energy and resource law at the University of Sydney, said.
“So it is in that context that the Australian government has actually put out to tender 47,000 kilometres of new plots for oil and gas exploration.”
“That’s a really difficult balance for Australia to play – how to manage domestic energy security, while at the same time meeting our climate targets.”
Main drivers of the shift
One of the main drivers of this shift has been the falling cost of renewable technologies. As solar and wind power have become increasingly affordable, more and more households and businesses have begun to switch to these clean energy sources. This has led to a surge in the installation of solar panels and wind turbines across the country and has contributed to a significant increase in the amount of renewable energy generated in Australia.
In addition to the falling cost of renewables, there has also been a growing recognition of the need to address climate change and reduce carbon emissions. This has led to the Australian government’s adoption of more ambitious renewable energy targets and the implementation of policies designed to encourage the adoption of clean energy technologies.
One such policy is the Renewable Energy Target (RET), which was introduced in 2001 and has played a significant role in driving the deployment of renewable energy in Australia. The RET sets a target for the amount of electricity generated from renewable sources and provides financial incentives for those who generate clean energy. As a result of the RET, the percentage of electricity generated from renewable sources in Australia has increased significantly and is expected to continue to rise in the coming years.
Another key factor in Australia’s shift towards renewable energy has been the development of large-scale projects. These projects, which include the construction of solar and wind farms, have helped to increase the amount of clean energy available to the grid and have made it easier for households and businesses to access renewable energy.
To sum up
While there is still a long way to go in terms of fully transitioning to renewables, it is clear that Australia is making significant progress. With the falling cost of clean energy technologies and the increasing recognition of the need to address climate change, the country will likely continue progressing towards a more sustainable energy future.
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