Australia must move faster to build large-scale renewable projects or risk blackouts and soaring energy prices when coal-fired power stations close down, the electricity grid operator has warned.
Ten large coal-fired power stations have closed since 2012 and AEMO now expects 90 per cent of remaining coal capacity to close by 2035. Coal is likely to have left the grid entirely by 2040, it adds, as ageing plants become less reliable and less competitive against cheaper renewable energy. But the operator warned significant new investment is needed to replace the power currently supplied by coal – about one-third of the grid’s current generation capacity – when it is no longer in use.It said new wind and solar farms sufficient to generate 134 gigawatts of power are needed, more than double existing capacity.
Wind farm approvals are also a problem, with just two approved in the past 17 months. Regional communities around the country have mounted anti-renewables campaigns and AEMO said the government must work harder to win the support of communities.
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