Australia will meet its 2020 renewable energy target (RET) as stated by the Clean Energy Regulator and with solar power’s continued emergence as reported by SBS News.
The CER has stated before that to meet the 2020 target of 33,000-gigawatt hours for extra renewable energy, it will require about 6,000 gigawatts of large-scale generation capacity to be constructed between 2016 and 2019. David Parker, CER chairman said that 6,532 megawatts of new large-scale generation had been announced since 2016, meaning investments have reached a level sufficient enough to meet the 2020 target.
With the projects announced since 2016, solar makes up 46% of the total new capacity while wind power makes up the bulk. Out of the 6,532 megawatts of new large-scale generation announced since 2016, more than 4,900 megawatts is fully financed.