South Australia unveils 50% renewables goal for 2025

Sep 23, 2014 - South Australia will aim at a 50% renewables share by 2025, Premier Jay Weatherill said today, adding that the Australian state is expected to have surpassed 33% already.

The renewable energy target (RET) in South Australia has already brought AUD 5.5 billion (USD 4.9bn/EUR 3.8bn) in investments. Weatherill said that an additional AUD 4.5 billion of expenditure is expected by 2025.

By the end of June 2014, South Australia had achieved a 31.5% renewable energy share in energy produced in the state. Newer statistics are expected to show that it has met its 33% goal for 2020 six years earlier than planned.

The news of the 50% goal comes at a time of great uncertainty for renewable energy developers throughout Australia. The country aims to source 20% of its total power from renewables by 2020 under its RET programme, but several months ago the government picked global warming skeptic Dick Warburton to review the scheme. The review panel’s report, published in August, calls for either the close of the RET scheme to new entrants with large-scale projects or the adjustment to the set renewable energy share goals, among other measures threatening future green energy investments.

The Australian Broadcasting Corporation (ABC) today quoted Andrew Bray from the Australian Wind Alliance as pointing out that the price for wholesale electricity in South Australia is the same as eight years ago, even though the state has installed significant wind and solar capacity.

(AUD 1 = USD 0.891/EUR 0.693)

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