Record clean energy surge set to break Australia's coal reliance
Over the past 12 months, more wind, solar and storage capacity was added to the eastern seaboard's electricity grid than in any year before, the Australian Energy Market Operator says in an update to be released on Thursday.
It also forecasts that the year's record investment in 4.4 gigawatts of generation and storage will be surpassed by even bigger increases in the years ahead. AEMO anticipates between 5.2 gigawatts and 10 gigawatts to come online annually from now to the end of the decade, aided by government schemes underwriting the financing of billions of dollars of new projects.
'The 10-year investment pipeline to manage energy reliability is healthy,' AEMO chief Daniel Westerman said.
Australia is experiencing one of the world's fastest energy transitions as polluting coal-fired generators, which still supply most of the grid's electricity, reach the end of their lives, while wind and solar farms and household rooftop solar panels are expanding their role in the grid every year.
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But officials, including AEMO, have long been worried that the build-out of large-scale renewables and storage, and the thousands of kilometres of new power lines to link them to major cities, was still lacking the speed necessary to compensate for further coal closures without heightening risk of power shortages or price spikes.
Critical projects have been running into problems including permitting delays, soaring construction costs, equipment shortages and significant pushback from rural and regional communities worried about impacts on farming practices, property values and the environment.
Nervous about the lagging pace of the rollout, the NSW government last year cut a deal with Origin Energy to keep the giant Eraring coal-fired power plant operating until 2027, a timeline some in the industry think may need to be pushed out further still. The Victorian government, meanwhile, has agreements to ensure two of its biggest coal generators – EnergyAustralia's Yallourn and AGL's Loy Yang A – do not shut prematurely.
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In additional questions, respondents supported a legislated right to work from home at least two days a week by 64-17 if an employee's job allows this. By 66-13, respondents supported a four-day week if an employee did the same work they would have over five days.
