Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Australia could add record amounts of renewable power in 2020 – Rystad

Solar panels under a blue sky
A solar energy farm. Photographer: Carla Gottgens/Bloomberg.

Australia is set to add a record amount of renewable power in 2020, driven by growing corporate demand for clean electricity and to fill generation gaps created by the retirement of aging coal-fired plants.

New markets are expected to unlock growth as pilot hydrogen projects start and oil, gas and mining projects invest in off-grid renewables generation, according to Rystad Energy.

The positive outlook would be a rebound for Australia’s clean energy developers after a sharp drop in investment in 2019.

“We expect the industry to bounce back in the second half of 2020,” Rystad said in a media release, citing projects with corporate power purchase agreements and the winners of government auction schemes that are scheduled to start construction this year.

Nearly 2 gigawatts of large-scale solar projects and 1.6 gigawatts of wind power are due to complete commissioning in the year ahead, up nearly 40% on 2019 levels.

Wind and solar developers are also lining up to replace the Liddell coal plant in New South Wales, which is due to close by April 2023.

Still, developers may face headwinds over the longer term. The industry has already met the government’s 2020 target for renewable generation and there is no new target to replace it.

Meanwhile, the profitability of projects located a long way from major demand centers has been hit by marginal loss factors — the amount of power lost along transmission lines.

“While the outlook for the commissioning of new projects still looks solid in 2020, there is a risk that activity tails off in the years ahead as the impact of falling investment starts to feed through,” said BloombergNEF analyst Leonard Quong.

Recommended for you

More from Energy Voice

Latest Posts