The Australian renewable energy target is far short of German achievement. Germany generated 26% of its electricity from renewables in 2014. And Germany is aiming for 60% by 2035 and for 80% by 2050. The Australian target was set to 41,000 gigawatt hours, 20% of 2009 consumption. When energy demand dropped and the 41,000 target looked like becoming 27% of the 2020 consumption, the Abbott government has attempted to slash this target.
After a year of damaging uncertainty, an agreement has been struck between the Coalition and Labor over a revised target. That should get the sustainable energy sector back on track. … However, the Abbott government’s vacillations shattered investor confidence in the sector. Billions of dollars earmarked for solar and wind farm projects left Australia for greener shores. … Only two wind farm projects and one solar farm development have reached financial closure in the past 18 months in Australia.
(The Age Editorial: 20 May 2015)
Category: OzPolitics, RET