Market forces rather than subsidies are now driving investment in renewable energy, says an official analysis that also shows wind and solar penetration will reach a level the former Abbott government legislated to prevent.
The regulator said 2018 was the year that commercial factors overtook subsidies as the main driver of renewables investment.The government's renewable energy target has been the dominant driver of the move from fossil fuels to renewable energy sources since it was introduced in 2001. The CER report said by 2020, an additional 40,000 gigawatt hours of electricity from renewable sources would be generated compared with 1997 levels - well above the target of 33,000GWh.of 41,000GWh because it said the goal would displace coal and drive up power prices. The lengthy review preceding the revised target triggered deep uncertainty in the sector and a sharp dive in investment.
nicole_hasham Abbott was d culprit of our high power n gas prices Top public service Parkinson has said so LNP gov is colluding with coal miners n gas cowboys is ripping us $1000s in costly power PM should be sacked
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