Origin Energy has lifted the speed with which it can supply electricity to the national power grid after upgrading South Australia’s Quarantine gas peaking plant to capitalise on new trading rules amid a surge in renewable energy output.
New solar energy installations tripled in capacity in 2018 in Australia, with solid growth in rooftop solar eclipsed by a massive increase in utility-sized ventures.
The industry experienced another record-breaking year in 2018, with $20 billion invested in large-scale renewable projects and close to 1.5 GW of rooftop solar installed, taking Australia past the magic milestone of 2 million homes with rooftop solar. While the renewable energy industry still has its detractors, most notably on the right wing of the Federal Coaltion, nothing silenced the critics quite like the installation of hundreds of thousands of solar panels on Australian rooftops – or the billions of dollars of investment and tens of thousands of jobs brought to rural Australia by dozens of new wind and solar farms.
Australia’s economy will be among the worst affected by the Paris climate change agreement, enduring slower growth, fewer jobs and a “notable” 6 per cent slump in the exchange rate, according to a new analysis of the global accord.
A split has emerged over energy investment, with integrated retailers stalling new generation, even as developers set the seal on a record year of new commitments.