Coal plays a significant role in Australia’s energy supply. During 2019, in the National Electricity Market (which covers Queensland, New South Wales, Victoria, South Australia and Tasmania) coal-burning power stations were responsible for 68% of electricity generation.
Coal power generation is becoming less significant over time. Coal’s share of generation within the National Electricity Market has fallen by 17% over the last 12 years and will continue to diminish as more power stations utilising newer, cheaper and cleaner forms of generation come online.
Meanwhile, renewable energy sources have been picking up steam, and are now delivering exponentially more electricity than they were 10 years ago. Renewables aren’t just the future – they’re here now.
But this growth is just a fraction of what renewables are capable of. Over the past five years, political turmoil has led to investor uncertainty on energy. With effective national energy policy settings, investor confidence could underpin significant development in the next phase of renewable industry development.