Australia Renewable Energy Policy Handbook, 2024 Update
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Australia Renewable Energy Policy Overview
Australia possesses vast unused renewable energy potential. To tap this potential, the government has adopted various measures, such as the introduction of new policy instruments, efforts to attract investment, and making renewable energy an integral part of the energy policy.’ The Renewable Energy Target (RET) scheme, which was initiated in 2009, set a target to achieve an annual generation of 33TWh from renewable sources by 2020 (this target was achieved) and the provinces had their targets. The RET scheme is valid till 2030, the government aims to continue to secure 33TWh generation from renewable sources in its annual power generation.
The Australia Renewable Energy Handbook offers comprehensive information on major policies governing the renewable energy market in most of Australia. The report also discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of the overall growth potential of the renewable energy industry. Moreover, the report provides major technology-specific policies and incentives provided in the region.
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Australia Renewable Energy Regulatory Landscape
The Ministerial Council of Energy released a document entitled Reform of Energy Markets, on December 11, 2003. The purpose of this document was to initiate the creation of a national power and natural gas market rather than a state-based provision for the markets. As a result, two federal-level institutions, the Australian Energy Market Commission (AEMC) and the Australian Energy Regulator (AER), were created. The National Electricity Market (NEM) consists of the Australian Capital Territory, New South Wales (NSW), Queensland, South Australia, Victoria, and Tasmania. Western Australia and the Northern Territory are not included in the NEM, due to their distance from the rest of the market. The AEMC, which was established under the Australian Energy Market Commission Establishment Act 2004, is responsible for rule and policymaking for the NEM. The AER is accountable for the regulation of power transmission networks in the NEM and the implementation of the National Electricity Law and National Electricity Rules.
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Australia Renewable Energy – State-Level Policies and Incentives
South Australia – South Australia’s Feed-in Tariffs (FiT) scheme was introduced on 1st July 2008 and has been reviewed multiple times. There are two types of FiT available in the market namely, retailer FiTs and distributor FiTs. South Australia has until September 2017, released three tenders, to further its renewable energy initiatives. The response time for potential developers ended on September 28, 2017.
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Segments Covered in the Report
Australia Renewable Energy Policy Country-Level Outlook (2024)
- South Australia
- New South Wales (NSW)
- Victoria
- Tasmania
- Queensland
- Western Australia
- Northern Territory
Scope
The report provides:
- Policy measures and incentives are used by countries in the Australia region to promote renewable energy.
- Promotional measures in the Australia region both for the overall renewable energy industry and for specific renewable energy technologies that have potential in the region.
Reasons to Buy
The report will enhance your decision-making capability in a more rapid and time-sensitive manner. It will allow you to –
- Develop business strategies with the help of specific insights about policy decisions being taken for different renewable energy sources.
- Identify opportunities and challenges in exploiting various renewable technologies.
- Compare the level of support provided to different renewable energy technologies in different countries in the region.
- Be ahead of the competition by keeping yourself abreast of all the latest policy changes.
Table of Contents
Table
Frequently asked questions
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Which key policy supports renewable power generation in Australia?
The key policy supporting renewable power generation in Australia is the Australian Energy Market Commission Establishment Act 2004.
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What are the renewable energy targets in Australia?
Under the Renewable Energy Target (RET) scheme, the Australian government aims to achieve 33TWh of extra renewable power generation each year by 2030. The Australian government aims to cut down carbon emissions by 43% by 2030 and become a carbon-neutral nation by 2050.
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