MELBOURNE - Australia has met its 2020 target for generating electricity from large-scale renewable energy a year ahead of plan, the country's clean energy regulator said on Wednesday, even as wind and solar investment has slowed.
The target, launched in 2001 by a conservative government and reduced in 2015 with rare bipartisan support, was for Australia to generate 33,000 gigawatt hours of power from large-scale renewable energy by 2020.The Clean Energy Regulator, which estimated in 2016 that to meet the target 6,400 MW of large-scale capacity would need to be built between 2017 and 2019, said on Wednesday that milestone was met on Aug 30.
"While future investment faces a number of constraints, this is by no means the end of renewable energy investment in Australia, with markets continuing to innovate and adapt to opportunities and challenges," Clean Energy Regulator Chairman David Parker said in a statement. Reaching the target means the end of a government scheme that provided subsidies to wind, solar and hydro power projects.
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