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

1 Renewable Energy Policy, Australia

1.1 Renewable Energy Market, Overview

1.1 Policy Snapshot

1.2 Renewable Energy Targets

1.3 Renewable Energy Policy Framework

Renewable Energy Target (RET) Scheme

Climate Change Target 2030

Long Term Emissions Reduction Plan

Offshore Clean Energy Infrastructure Regulatory Framework

Financial Incentives and Policy Support for Solar Power, Australia, Federal Incentives

Clean Energy Finance Corporation (CEFC)

Emissions Reduction Fund (ERF)

2023-24 Budget

National Hydrogen Strategy

Australia-Germany Hydrogen Accord – Hygate program

Microgrids

Australian Clean Hydrogen Trade Program (ACHTP)

1.4 State Level Policies and Incentives-South Australia

Feed-in Tariffs

South Australia Renewable Energy Auctions

The Sustainability Incentives Scheme

South Australia Energy and Emissions Reduction Agreement

National Hydrogen Strategy – South Australia

1.5 State Level Policies and Incentives-New South Wales (NSW)

Electricity Infrastructure Roadmap

Assessing large-scale solar projects in NSW

Proposed New Energy Policy Framework

Feed-in Tariffs

Funds for Renewable Energy in Regional Communities

Solar Homes Policy

Solar for Low Income Household

Empowering Homes: Solar Battery Loan Program

NSW Energy and Emissions Reduction Agreement

National Hydrogen Strategy – New South Wales

Small-scale Technology Certificates

1.6 State Level Policies and Incentives-Victoria

Renewable Energy Action Plan

Victoria’s Climate Change Strategy

Feed-in Tariffs

Agriculture Energy Investment Plan (AEIP)

New Renewable Energy Target for Victoria (VRET)

The Victorian Renewable Energy Auction Scheme (VREAS)

Renewable Hydrogen Commercialization Pathways Fund

Victorian Big Battery (VBB)

National Hydrogen Strategy – Victoria

1.7 State Level Policies and Incentives-Tasmania

Feed-in Tariffs

Renewable Energy Action Plan

Renewable Energy Target

Tasmania Energy and Emissions Reduction Agreement

National Hydrogen Strategy – Tasmania

Tasmanian Renewable Hydrogen Action Plan

1.8 State Level Policies and Incentives-Queensland

Feed-in Tariffs

Queensland Renewable Energy Auctions

Queensland interest-free solar loans

Solar 150 initiative

CleanCo

National Hydrogen Strategy – Queensland

1.9 State Level Policies and Incentives-Australian Capital Territory

ACT Renewable Energy Auctions

Home Battery Storage Program

Rooftop Solar Scheme

Sustainable Household Scheme

National Hydrogen Strategy – Australian Capital Territory

1.10 State Level Policies and Incentives-Western Australia

Climate Policy

Energy Transformation Strategy

Distributed Energy Buyback Scheme (DEBS)

National Hydrogen Strategy – Western Australia

1.11 State Level Policies and Incentives-Northern Territory

Roadmap to achieve Renewable Energy Target

Incentives for Renewable Energy

Solar Energy Transformation Program (SETuP)

National Hydrogen Strategy – Northern Territory

2 Appendix

2.1 Abbreviations

2.2 Market Definitions

Power

Renewable Power

Installed Capacity

Electricity Generation

Electricity Consumption

2.3 Methodology

Coverage

Secondary Research

Primary Research

Modelling and Forecasting

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Table

Table 1: Policy Snapshot, Australia, 2022

Table 2: New Large-scale Renewable Energy Target, Annual Targets, Australia (TWh), 2015–2030

Table 3: HyGATE program

Table 4: Time-Varying Minimum FiTs, 2023-24

Table 5: Tasmanian Renewable Hydrogen Action plan Targets

Table 6: Renewable Energy Reverse Auction Winners, ACT, Australia

Table 7: Capacity and number of generators by tariff in 2021

Table 8: Renewable Hydrogen Strategy, Western Australia

Table 9: Abbreviations

Frequently asked questions

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