NewEnergyNews: Aussies Driving World’s New Energy Build

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    Friday, October 18, 2019

    Aussies Driving World’s New Energy Build

    Australia is the runaway global leader in building new renewable energy

    Matthew Stocks, Andrew Blakers, Ken Baldwin, September 24, 2019 (The Conversation)

    “In Australia, renewable energy is growing at a per capita rate ten times faster than the world average. Between 2018 and 2020, Australia will install more than 16 gigawatts of wind and solar, an average rate of 220 watts per person per year…This is nearly three times faster than the next fastest country, Germany…[T]he record-high installation rates of 2018 will continue through 2019 and 2020…[Investment dollars in renewable energy fell in 2019, but] actual generation capacity has risen…[because] less investment will buy you more capacity… 5.1 gigawatts (GW) accredited in 2018, far exceeding the previous record of 2.2GW in 2017…

    [It] was driven by the dramatic rise of large-scale solar farms, which comprised half of the new-build capacity accredited in 2018. There was a tenfold increase in solar farm construction from 2017…[Largely from large wind projects due to come online, this] year is on track to be another record year, with 6.5GW projected to be complete by the end of 2019…[With less than A$1,000 per kilowatt now considered routine and payback periods of the order of two to seven years, rooftop] solar has also increased, with current installation rates putting Australia on track for 1.9GW in 2019, also a new record…[In 2020,] almost 6GW of large-scale projects are expected to be completed, comprising 2.5GW of solar farms and 3.5GW of wind…” click here for more

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