This is the third blog in our Global Spotlight Series, which provides high-level overviews of emerging clean tech opportunities in various markets across the globe. Today we will explore renewable energy opportunities in Australia.
Change is afoot in the Australian energy market. Like much of the world, energy generation is rapidly moving towards more decentralized capacity. Fossil fuel sources are being withdrawn from the energy mix and replaced with cost-effective renewable energy, creating a wealth of renewable energy opportunities in Australia for C&I buyers. Read on to learn where these opportunities exist for your company:
- Recent, sharp electricity price increases have opened up a market for renewable energy power purchase agreements (PPAs).
- Certified GreenPower must come from generators built since 1997. This distinction is critical, as some significant renewable energy projects (such as the Snowy Mountains Hydro Power Station) were built prior to 1997 and already provide Australia with 5-6% of its renewable energy.
The corporate PPA market in Australia is emerging. With the sharp – and somewhat unexpected – electricity price rises in recent months, C&I organizations are increasingly looking towards renewable energy PPAs as a cost-effective solution. There is a breaking opportunity to alleviate price increases, mitigate conventional energy volatility, acquire Large Generation Certificates (LGCs), and meet carbon reduction goals in Australia.
GreenPower is the government accredited renewable energy tracking standard for Australia. It was established for compliance markets but is also open to voluntary buyers. Domestic EACs, referred to as Large Generation Certificates (LGCs), are currently priced high (>$60 USD) due to lack of supply, which presents an opportunity for project developers and innovative companies looking at PPA deals.
Get in touch with our team of global experts to learn how your organization can take advantage of the current renewable energy opportunities in Australia.
The post Global Spotlight: Renewable Energy Opportunities in Australia appeared first on Renewable Choice Energy.