Australia’s power grid was built to transport power from coal-fired power stations or the Snowy Hydro scheme to large cities and industrial precincts. The large transmission lines were designed with generation supply and demand, the shortest routes, and cost in mind.
The world is increasingly recognising the need to transition away from fossil fuels. This shift is not only crucial for mitigating climate change but also for enhancing global security, as highlighted in recent discussions at COP28 in Dubai.
The expansion of the Capacity Investment Scheme (CIS) in Australia has garnered strong support from a diverse array of stakeholders, including peak energy bodies, consumer groups, and climate advocates. This initiative marks a significant step in the country's journey towards a more sustainable and reliable energy future.
In a groundbreaking shift, Australia's renewable energy sector, particularly solar and wind power, has achieved a remarkable milestone. For the first time, the combined electricity output from these sources has surpassed the total demand of all Australian households. This development, as reported by the Australian Bureau of Statistics for the financial year 2021-22, marks a significant turning point in the nation's energy landscape.