Australia joins over 100 countries in committing to tripling renewable energy capacity by 2030, while facing challenges and criticisms domestically.
Australia’s Commitment to Tripling Renewable Energy Capacity
Australia has pledged to triple its renewable energy capacity by 2030, aligning with over 100 other countries globally who have made similar commitments. This commitment was announced at the 28th conference of the parties (COP28) in Dubai by Federal Climate Change and Energy Minister Chris Bowen. This goal is aiming to significantly increase the amount of green energy in the world by 200 per cent within seven years.
Challenges and Criticisms
Despite the ambitious commitment, the Australian government had to revise its domestic target for renewable energy amid concerns of falling short. The revision includes plans to use taxpayer subsidies through a ‘capacity investment scheme’ to support renewable energy projects and associated firming capacity. This approach has generated both approval from renewable energy developers and environmentalists, as well as criticism from the federal opposition over potential taxpayer exposure to risk.
Australia’s Lead in Renewable Energy Uptake
Minister Bowen highlighted Australia’s leading position in the uptake of rooftop solar power, with approximately one in every three homes equipped with solar installations. He also emphasized Australia’s potential to develop clean export industries such as green hydrogen. The announcement has garnered applause from international director Richie Merzian of the Smart Energy Council.