Plans to turbocharge the financing of more green energy projects through a federal underwriting scheme would get Australia most of the way to its 2030 renewables target, but new modelling warns the states and private sector will still have a pivotal role to play.
The Albanese government is aiming to more than double the share of clean energy in the electricity grid to 82 per cent by 2030, to help meet legislated national emissions cuts and compensate for an approaching wave of coal-fired power station closures across the eastern seaboard. However, there are mounting concerns in the energy industry that the target will be difficult to achieve because time is running out to build enough additional renewable generation and storage projects, as well as thousands of kilometres of new high-voltage transmission lines to connect far-flung renewable energy zones to major cities, as Energy and Climate Minister Chris Bowen has finalised the details of a publicly funded scheme to underwrite private investment in renewables, known as the Capacity Investment Schem
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Source: FinancialReview - 🏆 2. / 90 Read more »