The Australian Energy Regulator’s latest State of the Energy Market report has found Australians are an integral part of the switch to cleaner electricity sources, with increasing investment in rooftop solar, batteries and electric vehicles.
Rooftop solar in particular now exceeds 20 gigawatts in the National Electricity Market – making up a quarter of the maximum electricity which can be produced in the grid. New wind, solar and storage installations are also expected to triple in the next 12 months compared to 2023-2024.
The findings highlight Australians are looking for more ways to take power back into their hands. This has the dual benefit of lowering costs and cutting climate pollution.
Climate Councillor and energy expert, Greg Bourne, said: “Australia faces both an escalating climate crisis and rising costs of living. The expected extreme weather events are driven by climate change which hurts us both physically and economically. As ageing coal-fired power stations close down, we must take the opportunity to replace them with the lowest cost option for new energy in Australia: solar and wind, backed by storage.
“Australia is one of the top countries to increase renewable electricity generation in the past five years. Millions of Australian households and businesses are already reaping the benefits of having rooftop solar, and thousands of community batteries are supporting locals to take control of their electricity supply.
“We need to take advantage of our abundant sun and wind. Investing more in, and powering the country with, these clean electricity sources is a win-win: lowering the cost for more Australians, and building a safer future for our kids.”
Climate Councillor and economist, Nicki Hutley, said: “Smoothing Australia’s pathway to a grid powered by more renewable wind and solar electricity can lower energy bills and climate pollution; two of the most pressing issues impacting Australians right now. No one should have to choose between cooling their home or putting food on the table in a predicted period of sweltering temperatures.
“Giving Australians greater access to the proven cheapest energy sources, and cleaning up climate pollution, are the greatest economic imperatives that should guide today’s decision-makers. Any time wasted only means more harmful climate pollution and more power price pain for Australian households and businesses.”
The Climate Council has a plan that spells out how we can electrify the nation and cut climate pollution by 75% this decade. By 2030, renewable energy like wind and solar can meet almost all of our electricity needs with energy storage, like batteries, making clean energy available around the clock.
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