How is the country responding to clean energy initiatives?
Team Veye | 03 May 2021
Most of the people must have heard about the negative carbon footprint of the country’s electricity generation. They might also have pondered over whether there is a way to use a power that could be categorised as environmentally friendly.
Here it is encouraging to note that the current shift from fossil fuels to cleaner energy is gaining momentum.
Australia’s renewable energy industry has been growing fast and setting numerous records across the entire sector. The industry passed a significant milestone in 2020, with more than a quarter of the country’s total electricity generation coming from renewable sources for the first time. In 2019, 21% of Australia's total electricity generation was from renewable energy sources. The share of renewables in total electricity generation in 2019 was the highest since levels recorded in the early 1970s.
Australia has very good potential to become a global powerhouse of green hydrogen energy generation and accelerate the renewables market’s growth.
Hydrogen production is currently experiencing widespread political and business momentum, with the number of policies and projects around the world expanding rapidly. Global demand is forecasted to increase to 100 million tonnes by 2030 and exceed 500 million tonnes by 2050
A recent study by market analyst Fitch Solutions now claims that non-hydro renewable energy generation will make up close to a third (30%) of Australia’s total power mix by the end of the decade, driven by growth in green hydrogen production.
Australian Government is already trying to improve the competitiveness of renewable energy technologies Its purpose is a transition to cleaner energy in a manner where everyone has the same reliable and affordable access to energy.
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