Renewable energy is slashing emissions, now it’s cutting prices too

The rise of renewable energy in the grid is driving down emissions and power generated from wind and solar farms is starting to drive down the cost of electricity as well.

Wholesale power prices – what retailers pay generators for electricity before selling it to customers – can typically account for up to one-third of retail power bills for households and businesses.“We are increasingly seeing renewable energy records being set which is a good thing for Australian consumers as it is key in driving prices down and National Electricity Market emissions intensity to new record lows,” Mouchaileh said.

AEMO said the cost of electricity generation fell in the first quarter this year, even as households switched on their air conditioners last summer to deal with extreme temperatures that strained the network.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Federal environmental laws 'single biggest challenge' for delivering renewable energy projects in AustraliaMore clean energy projects than ever are being assessed under federal environmental laws and it's slowing down the pace of development, according to investors.
Source: abcnews - 🏆 5. / 83 Read more »

Federal and state governments strike deal to add 6GW of renewable energy projectsClean energy resources will be boosted under a Commonwealth scheme with the states to provide more electricity.
Source: SBSNews - 🏆 3. / 89 Read more »

Federal and state governments strike deal to supply renewable energy to over a million homesClean energy resources will be boosted under a Commonwealth scheme with the states to provide more electricity.
Source: SBSNews - 🏆 3. / 89 Read more »

Over a million homes to get renewable energy in deal between federal and state governmentsClean energy resources will be boosted under a Commonwealth scheme with the states to provide more electricity.
Source: SBSNews - 🏆 3. / 89 Read more »