Tracking towards the 2020 Renewable Energy Target Jay Hender, - - PowerPoint PPT Presentation

Tracking towards the 2020 Renewable Energy Target

Jay Hender, General Manager, Technical Assessment and Support, Clean Energy Regulator

Our purpose: accelerating carbon abatement for Australia

2 Tracking towards the 2020 Renewable Energy Target – Large Scale Solar Conference, 3 April 2017

Progress towards the 2020 Large-scale Renewable Energy Target

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• 6,000 megawatts of new build to be committed by 2018 and built by

2019 to meet the 2020 Large-scale Renewable Energy Target

• Commitments and build would need to happen early to provide an

adequate supply of large-scale generation certificates along the way.

The Investment Pipeline

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5000000 10000000 15000000 20000000 25000000 30000000 35000000 40000000 1000 2000 3000 4000 5000 6000 Capacity (Megawatts) Generation (Megawatt hours) Firmly announce as at 27 March 2017 Generation 2016 Estimated generation from 2016 firmly announced capacity blank LRET 2020 Target Estimated total 2020 demand

Renewables in Australia – Firmly announced

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Solar and wind market share

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2015

Wind 75% Solar 25%

2016

Wind 65% Solar 35%

Shift in commercial solar

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Fuel source 2016 accredited projects (Total capacity) 2015 accredited projects (Total capacity) Commercial and industrial solar 76 (16MW) 35 (10MW) Utility solar 10 (102MW) 7 (164MW) Wind 5 (365MW) 3 (113MW)

LGC Spot Price

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$20.00 $30.00 $40.00 $50.00 $60.00 $70.00 $80.00 $90.00 $100.00

LGC Spot Price 2015-2017

$85.75

Large-scale RET legislated at 33,000 GWh

Final surrender date

Clean Energy Regulator Publications

• 2016 Renewable Energy Target and Annual Statement – due to be

tabled later this month

• “Meeting the Renewable Energy Target: Innovative approaches to

financing renewables in Australia” – EY report, available on our website www.cleanenergyregulator.gov.au enquiries@cleanenergyregulator.gov.au

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