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Renewable energy projects are booming

A new monthly report tracking renewables in Australia finds nearly 19 per cent of the nation's energy now comes from green sources.

Renewables generated enough energy in July to cover the power needs of almost three in four Australian households.

While renewables accounted for about 18.8 per cent of overall electricity generated, this was enough to power 8.2 million households across both the east and west coast grids, a new monthly renewable energy index finds.

The new Australian Renewable Energy Index, launched on Monday by market analysts Green Energy Markets and advocacy group GetUp, will track each month the amount of renewable energy Australia relies on, the jobs it creates and the environmental benefits.

The July 2017 report finds there are 53 large-scale renewable energy projects being built (seven more than in June), creating about 9900 full-time construction jobs.

As well, more than 14,400 rooftop solar systems were installed in the month, with the industry estimated to support 4660 jobs.

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"Back in 2008, generation from solar was little more than a rounding error," Green Energy Market analysis and advisory director Tristan Edis said.

"Systems installed in just the past year, however, will produce energy equivalent to the needs of over 226,000 homes ... (and) save consumers $1.5 billion off their electricity bills over the next 10 years."

He said the boom in renewable projects both large and small was underpinned by the renewable energy target, which runs out in 2020.

However, Mr Edis estimated if the current rate of construction kept up, Australia would be on track to meet the target of producing 23.5 per cent of energy from renewables by the end of 2018.


2 min read

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Source: AAP



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