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Renewable Energy News
The Abbott government’s attack on renewable energy has contributed to investment in large-scale renewable energy projects in Australia stalling at one-third of what is needed to meet the 2020 Renewable Energy Target, as revealed in new figures from Bloomberg New Energy Finance.
While investors have been left with uncertainty over funding large-scale renewables, everyday Australian households are making an investment in rooftop solar as a way of reducing their electricity bills, according to Solar Citizens Campaigns Director, Dan Scaysbrook.
The utility-scale solar industry in Australia is set to get a major cash injection, as the Australian Renewable Energy Agency (ARENA) today announced a shortlist of 22 projects to receive a total of $100 million in funding.
The shortlisted projects range from 10 MW to 106.8 MW, and cover every mainland state, though the vast majority are located in Queensland (10) and New South Wales (8).
The global renewable energy industry continued its rapid expansion in 2015, with the latest figures from Bloomberg New Energy Finance (BNEF) showing 2015 was a record year for investment.
BNEF says 2015 was also the highest ever for installation of renewable power capacity, with 64 GW of wind and 57 GW of solar PV commissioned during the year, an increase of nearly 30 per cent over 2014.
U.S. President Barack Obama highlighted his administration’s progress on wind and solar power in his final State of the Union address – and wants to see more of the same.
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