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The Renewable Energy Target 2018 Administrative Report

The acceleration in renewables investment

The Clean Energy Regulator today released the 2018 Renewable Energy Target Administrative Report – The acceleration in renewables investment. The report highlights the record investment in large scale, commercial and industrial and household solar over the last year.

The report also includes the annual statement on progress toward the 2020 Large-scale Renewable Energy Target, which finds that at the end of 2018, we are on track to meet the Large-scale Renewable Energy Target in 2020 due to the level of commissioned, under construction and operating utility-scale renewables capacity.

Highlights from the 2018 report include:

  • At the end of 2018, enough utility-scale renewables capacity was commissioned and generating, or under construction, to meet the Large-scale Renewable Energy Target in 2020.
  • With the capacity of new build commencing generation in 2018 combined with the expected accreditations in 2019 and 2020, we expect generation to step up from around 22,000 gigawatt hours in 2018 to around 30,000 gigawatt hours in 2019 and 40,000 gigawatt hours in 2020.
  • The transformation of Australia’s electricity grid is accelerating. Australia is installing solar and wind so fast that it is now leading the world in the per capita deployment rate for renewables.
  • Renewable capacity installed under the Renewable Energy Target more than doubled from 2.2 gigawatts in 2017 to 5 gigawatts in 2018.
  • A record 3455 megawatts of large scale renewable energy projects were installed in 2018, more than triple the 1113 megawatts installed in 2017, the previous record.
  • The strong momentum in new firm project announcements continued in 2018 and early 2019 well beyond the point where it was clear the 2020 target would be exceeded.

Documentasset: The Renewable Energy Target 2018 Administrative Report

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