Antinuclear

51% renewable energy in Australia by 2050 – coal power on the way out

Australia moves from coal to renewables 51pct by 2050 http://www.coalguru.com/australia/australia_moves_from_coal_to_renewables_51pct_by_2050/10298 Australia, one of the most coal dependent energy economies in the world, is on track to produce 51% of all its energy by the year 2050. This would make the Land Down Under one of the greenest economies of all when it comes to energy production.

In 2007, Australia’s Labor Party brought about the country’s 20% Renewable Energy Target or RET. This called for reducing the carbon footprint of every Australian by one third, proposing the production of 60,000 GWH of electricity from renewable sources. Three quarters of that proposed green energy 45,000 GWH would meet the goals. Australia currently uses about 300,000 GWH of electricity each year.

In 2011, the goal was divided into 41,000 GWH of energy for industrial plants coming from renewables, with the remainder produced from small scale projects like rooftop solar installations.

Green Energy Markets of Australia released a report studying the adoption of renewable energy in the Australian market. Their findings indicate the country is on the path to producing 22% of its energy from renewable sources by the end of the decade and 51% by the year 2050. The 22 percent figure is 2% over the established goals of the national government. Even this lower mark will establish Australia as having the greenest energy production in the world.

Currently, the Land Down Under produces 60% of its electricity from coal, 24% from natural gas, 13% from renewables and two percent from oil. The use of renewable energy sources in Australia is on the rise however climbing 4.8% a year from 2012 to 2013 with a similar growth rate expected through 2050. Meanwhile, the use of fossil fuels decline at 3.1% each year.

Solar power is expected to rise fastest, with a growth rate estimated at 12.3% per year for the next 37 years. At that time, solar is expected to produce 16,000 GWH of electricity each year for Australia. The largest share of the renewable market in 2050 will be wind power expected to reach 21,000 GWH of production by then, after rising 4.7% each year.

The Australian Renewable Energy Agency, run by the national government, will invest USD 400 million dollars to build 150 MW of renewable energy plants by 2018. Many of these new plants will provide remote areas with energy. Some of these remote locations will see renewable energy for the first time.

Mr Gary Gray Federal Resources and Energy Minister said that “It’s no secret that in Western Australia we have a lot of remote areas and meeting our growing energy demand is a big issue. Where there is no grid-connected electricity, many communities and industries truck in fuels to generate energy.”

June 10, 2013 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, energy