Experts say Australia won’t meet net zero targets

Scrabble tiles spell Net Zero on blue and green background
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Analysts from renewable energy advisories Nexa and Rystad Energy say Australia will fall short of its 2030 net zero target of 82%.

Based on the current trajectory, Nexa Advisory found about 60% of the electricity generated in Australia’s biggest grid was likely to be renewable by 2030, while Rystad Energy’s forecasts was 64% under a “business-as-usual approach”.

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Rystad senior analyst David Dixon said congestion in the transmission network was hindering the country’s ability to reach net zero on time.

He said Australia needed to add approximately 4GW of large-scale wind and solar power a year to meet its target.

Global wind power provider Vestas has also expressed deep concern over Australia’s current trajectory, saying the country is at risk of running behind its 2050 net zero target.

Vestas vice president and head of Australia and New Zealand Danny Neilsen said, “The slow progress towards achieving the 2030 renewables target is a cause for significant worry.

“As a nation blessed with abundant renewable resources, Australia has immense potential to become a global leader in clean energy, however, our current pace is hindering the realisation of this potential.”

Factors such as labour shortages, inflation, inadequate investment, and regulatory challenges have impeded the development of renewable projects and Australia’s ability to capitalise on its renewable energy potential.

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“We must take immediate action to accelerate the deployment of renewable energy projects, streamline regulatory processes, and provide favourable policy frameworks that encourage investments in the sector,” Neilsen said.

“Only through collective efforts can we break the barriers and align Australia’s renewable energy ambitions with international expectations.”

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