South Australia will bring forward its renewable energy target by three years, as the state government accelerates decarbonised economic development.
Under the ambitious new target, electricity generation would be sourced from net 100% renewables by 2027.
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This will strengthen the state’s ambition as a result of the State Government’s Hydrogen Jobs Plan and new Hydrogen and Renewable Energy Act—key planks of the State Prosperity Project—which are set to unleash huge new investments in renewable energy.
New data shows South Australia is on track to achieve net 100% of electricity generation from renewables by 2030.
Under the plan, excess renewable energy generated from large-scale wind and solar farms will be stored and utilised to provide a consistent output of supply, providing additional grid stability for homes and businesses around the state.
AEMO generation forecasts show considerable growth in electricity demand as the South Australian economy expands this decade—increasing from around 16,000GWh this financial year to nearly 23,000GWh in 2030-31.
The bulk of the extra energy will be provided by renewables, with supply so plentiful that South Australia will be consistently a net exporter to the eastern states.
“The Malinauskas Government is confident our Hydrogen and Renewable Energy Act and positive attitude to investors will spur more renewables projects,” the South Australian Government said in a statement.
“At the same time, we have observed coal-fired power stations interstate becoming increasingly less reliable and owners making decisions to close them early.
“This will create demand from interstate for our clean, reliable power.”
Premier Peter Malinauskas said, “The world is demanding that economies decarbonise to avoid the risk of catastrophic climate change.
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“Our bountiful resources of wind and solar energy provide us the opportunity to seize the moment and produce what the world demands.
“The time is right to recalibrate and set an even more ambitious target. This will further entrench our state as a renewables leader not just in Australia, but the world.”
