Australia’s electricity market to expand renewab
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Posted On: 10/30/2024 5:39:49 PM
Australia’s electricity market to expand renewable capacity by 150GW by 2043
This growth, expected to be driven largely by solar, wind and energy storage investments
https://www.energylivenews.com/2024/10/30/aus...w-by-2043/
Australia’s transition to renewable energy has gained fresh momentum, with new projections indicating that the country’s National Electricity Market (NEM) will expand its capacity for solar, wind, and energy storage by over 150GW in the next two decades.
According to Cornwall Insight’s latest NEM Benchmark Power Curve, renewable capacity is expected to soar from 52GW in 2025 to 208GW by 2043, marking an impressive 300% increase.
This growth is projected to be led by solar energy, including substantial contributions from rooftop photovoltaic (PV) installations, which alone could add 78GW over the next twenty years.
Wind and energy storage capacities are also anticipated to expand significantly, with forecasts estimating an increase of 39GW and 40GW respectively.
icymi
This growth, expected to be driven largely by solar, wind and energy storage investments
https://www.energylivenews.com/2024/10/30/aus...w-by-2043/
Australia’s transition to renewable energy has gained fresh momentum, with new projections indicating that the country’s National Electricity Market (NEM) will expand its capacity for solar, wind, and energy storage by over 150GW in the next two decades.
According to Cornwall Insight’s latest NEM Benchmark Power Curve, renewable capacity is expected to soar from 52GW in 2025 to 208GW by 2043, marking an impressive 300% increase.
This growth is projected to be led by solar energy, including substantial contributions from rooftop photovoltaic (PV) installations, which alone could add 78GW over the next twenty years.
Wind and energy storage capacities are also anticipated to expand significantly, with forecasts estimating an increase of 39GW and 40GW respectively.
icymi
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