Australia witnesses record drop in coal capacity as renewables rise

2024-09-05 06:07:06

(MENAFN) In a historic development for Australia's energy sector, coal-fired power generation fell to an unprecedented low during the last week of August. Newly released figures reveal that coal accounted for less than 50 percent of the nation's electricity production for the first time. Specifically, coal-generated power dropped to 49.1 percent, while renewable energy sources contributed 48.7 percent, largely due to an increase in wind power driven by recent storms. This shift marks a significant turning point for Australia, which has traditionally depended heavily on fossil fuels, including coal, for its electricity needs.

Australia is known for being one of the largest global exporters of coal and gas, and its energy infrastructure has long been dominated by fossil fuels. However, the recent record low share of coal is attributed to a combination of factors, including stormy weather that intensified wind power output and a warmer-than-usual start to spring, which reduced overall electricity demand by up to 20 percent. Tim Buckley, a climate finance expert, highlighted that while this record low is partly a result of temporary weather conditions, it also indicates a broader trend towards diminishing reliance on coal. Buckley predicts that it will only be a few years before coal's contribution to the national energy market approaches zero.

In response to the ongoing shift, Australia is accelerating its investments in renewable energy. The government has announced six new battery storage projects across South Australia and Victoria, aiming to provide 1,000 megawatts of storage capacity by 2027. This initiative is part of a broader strategy to transition away from fossil fuels, as most of the country's coal-fired power stations are set to be decommissioned in the coming years. The emphasis on renewable energy reflects a commitment to meeting future energy demands sustainably and reducing the country’s carbon footprint.

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