SYDNEY: Australia is surging forward with its power transition to renewables, the power sector regulator stated on Thursday (Aug 29), however warned of energy shortages within the coming decade with out additional funding.
The Australian Vitality Market Operator stated photo voltaic, wind and hydro now supplied about 40 per cent of electrical energy on the nation’s east coast – the place 81 per cent of the inhabitants lives.
Vitality regulator chief govt officer Daniel Westerman stated this proportion would additional enhance within the coming years, as extra renewable initiatives got here on-line.
This consists of 5.7 gigawatts of grid-scale technology and storage and 365km of recent transmission developments.
“The pipeline of recent initiatives continues to develop, filling the gaps being left by the retirement of Australia’s ageing coal-fired energy stations,” he stated.
There are 16 coal-fired energy stations in Australia, the vast majority of which can shut by 2035.
Australia stays one of many world’s main exporters of coal and gasoline, though its inhabitants is among the many world’s most enthusiastic adopters of family photo voltaic panels.
However Westerman warned on Thursday that continued funding was wanted within the renewable sector or there could be blackouts within the subsequent decade as demand soared.
“If delays happen to initiatives already underway or additional funding doesn’t materialise, then the outlook for reliability will deteriorate,” he stated.
Electrical energy skilled Jay Gordon from the Institute for Vitality Economics and Monetary Evaluation stated Australia’s power transition was “working” however the authorities and business wanted to maintain their “foot on the pedal”.
“Renewables backed up by storage is the least price type of new technology, and that is anticipated to assist decrease power costs for customers,” he stated.
