Australia’s primary federal renewable energy target – to have 33 terawatts of renewable energy by 2020 – has essentially been achieved. There is much uncertainty as to what is next.
In the absence of a new national target, the states have been leading the way and driving renewable energy in Australia. Victoria, New South Wales and Queensland between them have invested some A$20 billion into building 11,400 megawatts of generation capacity.
While the states have worked admirably to advance renewable energy – and federal energy policy has long been politically toxic – there is a clear cost to pursuing many fragmented policies instead of a unified vision.
Our research, modelling the effect of state versus national renewable energy targets in the National Energy Market system found there was little difference in the overall cost, but that states without strong renewable targets tended to miss out on investment.
Read the full article on The Conversation.