Tracking towards the 2020 Renewable Energy Target Jay Hender, General Manager, Technical Assessment and Support, Clean Energy Regulator
Our purpose: accelerating carbon abatement for Australia Tracking towards the 2020 Renewable Energy Target – Large Scale Solar Conference, 3 April 2017 2
Progress towards the 2020 Large-scale Renewable Energy Target • 6,000 megawatts of new build to be committed by 2018 and built by 2019 to meet the 2020 Large-scale Renewable Energy Target • Commitments and build would need to happen early to provide an adequate supply of large-scale generation certificates along the way. Tracking towards the 2020 Renewable Energy Target – Large Scale Solar Conference, 3 April 2017 3
The Investment Pipeline 6000 40000000 35000000 5000 30000000 4000 25000000 3000 20000000 15000000 2000 10000000 1000 5000000 0 0 Capacity (Megawatts) Generation (Megawatt hours) Firmly announce as at 27 March 2017 Generation 2016 Estimated generation from 2016 firmly announced capacity blank LRET 2020 Target Estimated total 2020 demand Tracking towards the 2020 Renewable Energy Target – Large Scale Solar Conference, 3 April 2017 4
Renewables in Australia – Firmly announced Tracking towards the 2020 Renewable Energy Target – Large Scale Solar Conference, 3 April 2017 5
Solar and wind market share 2016 2015 Wind 65% Wind 75% Solar 35% Solar 25% Tracking towards the 2020 Renewable Energy Target – Large Scale Solar Conference, 3 April 2017 6
Shift in commercial solar Fuel source 2016 accredited projects 2015 accredited projects (Total capacity) (Total capacity) Commercial and 76 35 industrial solar (16MW) (10MW) Utility solar 10 7 (102MW) (164MW) Wind 5 3 (365MW) (113MW) Tracking towards the 2020 Renewable Energy Target – Large Scale Solar Conference, 3 April 2017 7
LGC Spot Price LGC Spot Price 2015-2017 $100.00 Final surrender date $90.00 $85.75 $80.00 $70.00 $60.00 $50.00 Large-scale RET legislated $40.00 at 33,000 GWh $30.00 $20.00 Tracking towards the 2020 Renewable Energy Target – Large Scale Solar Conference, 3 April 2017 8
Clean Energy Regulator Publications • 2016 Renewable Energy Target and Annual Statement – due to be tabled later this month • “Meeting the Renewable Energy Target: Innovative approaches to financing renewables in Australia” – EY report, available on our website www.cleanenergyregulator.gov.au enquiries@cleanenergyregulator.gov.au Tracking towards the 2020 Renewable Energy Target – Large Scale Solar Conference, 3 April 2017 9
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