According to Green Energy Markets’ monthly Renewable Energy Index, Tasmania is on track to achieve its target of 100 per cent renewables by 2022.
The index tracks the contribution of the renewable energy sector around Australia, broken down by fuel type and state.
Around the country, Victoria is also close to achieving its target of 40 per cent of Victorian power generation coming from renewables by 2025, and within striking distance of their 2030 target for 50 per cent renewables. Victoria requires about 2000MW of further projects to reach its 50 per cent target.
It would only need a further two renewable energy contracting rounds similar in scale to the one it concluded in 2018 and it will have bridged the gap to its 2030 target. Victoria defines its target in terms of generation, not consumption. Assuming its remaining brown coal generation remains at historical levels, Victoria would re-emerge as a major power exporter under such a scenario.
In New South Wales, the state will fall short of achieving timely progress towards its target of net-zero emissions from its power sector by 2050, according to the report. To be on track it would need renewables to grow to around 46 per cent of its overall electricity consumption by 2030, but is currently on track to reach 28 per cent, based on expected rooftop solar growth and committed and contracted wind and solar farms. To bridge the gap it requires close to an additional 5000MW of new renewable energy project commitments by 2030.
Queensland is also significantly short of its target for 50 per cent renewables by 2030, with current commitments and rooftop solar growth to deliver 29.2 per cent. Even after taking into account the initiatives of the Government’s CleanCo, the state requires around another 4500MW of projects.
South Australia is on track to generating renewable energy equal to 73.5 per cent of its consumption by 2030, up from 53 per cent in 2018. To achieve the government’s target of 100 per cent renewables it roughly needs another 1300MW of capacity.