Renewable energy in Australia is growing at a rapid pace. It’s per capita rate of growth is ten times higher than the world average. By 2020 the country is expected to install more than 16 gigawatts of solar and wind which well poised to average up to 220 watts per person. The rate of production is three times faster than Germany which is the next fastest country. Australia is setting an example of how an industrialized country that is dependent on fossil fuel can transition to low carbon renewable power generation rapidly. Analyzed data from regulators showed record-high installation rates of 2018 are all set to continue till 2020.
Prospects for continuing the high installation rate are looking good because the long-term contract for energy supply has an average of A$58 per MWh. This is considered a very reasonable profit margin which indicates that the installations must continue. State government programs are supportive and the ACT has completed its contracts for 100 percent renewable energy. By 2050 South Australia is anticipating to reach 100 percent of its energy goal. The only inevitable problem which is persisting is transmission and this has caused hassles in moving electricity from a few solar and wind farms. Investments from the government are key for Australia to maintain its position as a leader in renewable energy.