Increased solar PV and wind generation contributed to lower wholesale electricity prices in Australia in Q2 2023, according to the Australian Energy Market Operator (AEMO).
Three renewables generation projects amounting to a collective 1.395GW have been awarded approvals in New South Wales’ most recent renewable energy tender, alongside a large battery energy storage system (BESS).
Q4 2022 saw a marked uptick in renewable energy investment in Australia, and a 17% total bump in year-on-year investment was recorded compared with 2021. Despite this, more is needed to reach the country’s Renewable Energy Targets according to the Australian Clean Energy Council.
The Australian Energy Market Operator (AEMO) has released its roadmap to reaching 100% renewable generation in the Australian National Electricity Market (NEM) by 2025.
Australia’s new Labor government has raised the country’s 2030 emissions reduction target as it vowed to support the transition to renewables by investing in transmission infrastructure and energy storage.
The Australian Energy Market Operator (AEMO) has suspended the country's wholesale power market after a collapse in generation rendered the spot market impossible to operate reliably.
Solar PV and other renewables account for more than a third of electricity generation in Australia’s National Energy Market (NEM) in Q1 2022, coal’s share slipping by five percentage points year-on-year.
