Australia’s Mission to Reach its Renewable Energy Target
After outlining his extensive experience within the energy sector, the Simec Energy Australia specialist discussed the renewable energy market in Australia and solar energy’s role within it. He explained that Australia is set to reach its renewable energy target ahead of the 2020 deadline, but that there are a number of factors affecting the revenue that energy generators receive for the energy they produce. This includes marginal loss factors (MLF) and increased uncertainty surrounding the recent elections.
The executive continued the discussion by noting areas of Australia where wind and solar PV energy capacity could be increased. He discussed areas such as Queensland, New South Wales and Tasmania, exploring why these states, in particular, were ideal for improving their supply of renewable energy sources.
While discussing the utility-scale solar capacity, the specialist explained the difficulties of selling energy to commercial or industrial companies instead of directly to the electrical grid. He voiced the opinion that the instability of energy generated from producers could prevent companies from using renewable energy sources, particularly if they operate 24/7.
The executive continued by outlining the causes of the delays to Australia’s solar project construction, highlighting the lead-times for original equipment manufacturers (OEMs) as a major cause of the disruption. He lastly explored the key project developers in the Australian solar sector and the potential opportunities, challenges and risks for these players in the next few years.
To access all the human insights from Third Bridge’s Australian Utility-Scale Solar PV Sector Interview, click below to view the full transcript.
The information used in compiling this document has been obtained by Third Bridge from experts participating in Forum Interviews. Third Bridge does not warrant the accuracy of the information and has not independently verified it. It should not be regarded as a trade recommendation or form the basis of any investment decision.
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