{"id":20661,"date":"2018-04-09T06:12:23","date_gmt":"2018-04-08T19:42:23","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=20661"},"modified":"2018-04-09T06:12:23","modified_gmt":"2018-04-08T19:42:23","slug":"solar-investment-australia-mb0535","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/solar-investment-australia-mb0535\/","title":{"rendered":"Australian Renewable Energy Investment Up 147 Per Cent"},"content":{"rendered":"
\"Solar

Image: Global Trends in Renewable Energy Investment 2018<\/p><\/div>\n

Renewable energy investment in Australia jumped 147% last year to a record USD $8.5 billion (around AUD $11 billion at current exchange rates) – and solar power accounted for more than half that figure.<\/p>\n

The Global Trends in Renewable Energy Investment 2018 report was released last Thursday by the UN Environment Programme (UNEP). It states a record 157 gigawatts of renewable energy capacity (excluding large hydro) was commissioned globally last year, with solar energy alone accounting for 98GW. This was more than the net additions of coal, gas and nuclear plants combined.<\/p>\n

Solar energy accounted for 38% of net new power capacity brought online globally during 2017.<\/p>\n

“The extraordinary surge in solar investment shows how the global energy map is changing and, more importantly, what the economic benefits are of such a shift,\u201d said<\/a> UNEP chief Erik Solheim.<\/p><\/blockquote>\n

Australia A Standout Performer<\/h2>\n

The report noted the sharp increase in investment in Australia, with solar power making up USD $4.9 billion and wind comprising $3.6 billion of the $8.5 billion total. 2017 also saw Australia enter the top ten list for renewable energy asset finance for the first time.<\/p>\n

Commenting on the report, Climate Council Acting CEO Dr Martin Rice said<\/a>:<\/p>\n

“If Australia maintains this momentum then we could see the phasing out of coal within the next two decades, transitioning the nation to an energy grid fit for the 21st century and one that slashes our rising greenhouse gas pollution levels.”<\/p><\/blockquote>\n

That assessment is unlikely to be well received by the Monash Forum<\/a>, who are calling for the construction of\u00a0 “Hazelwood 2.0”, funded by taxpayers.<\/p>\n

Australian Small Scale Solar Prices Plummet<\/h2>\n

The UNEP report makes special mention of how much small- scale solar prices<\/a> dropped in Australia over the previous 7 years.<\/p>\n

“A 4kW PV system cost an average of $6.40 per Watt in 2010, yet by the end of 2017 it had plummeted 78% to just $1.40 per Watt,” it states.<\/p><\/blockquote>\n

To put that in Australian currency at current exchange rates, that’s a drop from $8.40 to $1.82 per watt and doesn’t take into account the “solar rebate<\/a>“. With the subsidy, the nationally averaged price of a 4kW solar power system<\/a> (installed) is currently around the $5,500 mark.<\/p>\n

While not the world leader\u00a0 for installed residential and commercial solar PV<\/a> systems, Australia was no slouch on this front in 2017.<\/p>\n

Japan was estimated to have 36GW of installed residential and commercial PV capacity by the end of last year, followed by Germany (30GW), USA (18GW), China (17GW) Italy (15GW). Australia trailed the major nations with 6GW of installed capacity.<\/p>\n

The full Global Trends in Renewable Energy Investment 2018 report can be downloaded here<\/a> (PDF).<\/p>\n","protected":false},"excerpt":{"rendered":"

Renewable energy investment in Australia jumped 147% last year to a record USD $8.5 billion (around AUD $11 billion at current exchange rates) – and solar power accounted for more than half that figure.<\/p>\n","protected":false},"author":17,"featured_media":20662,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-20661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"\nAustralian Renewable Energy Investment Up 147 Per Cent<\/title>\n<meta name=\"description\" content=\"Australia was a standout performer in renewable energy investment in 2017 - 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A new report from the International Renewable Energy Agency (IRENA) says 500,000 new renewable energy jobs were created globally in\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar PV jobs - IRENA","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/global-solar-jobs.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/global-solar-jobs.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/global-solar-jobs.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/global-solar-jobs.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":14372,"url":"https:\/\/www.solarquotes.com.au\/blog\/victoria-renewable-energy-rollout-mb0178\/","url_meta":{"origin":20661,"position":3},"title":"Victoria’s Government Applauded For Renewable Energy Push","author":"Michael Bloch","date":"August 24, 2017","format":false,"excerpt":"Legislation for new renewable energy targets, major solar farm contracts and Australia's largest renewable energy auction - it was a big day in Victoria yesterday for renewables. The Andrews Labor Government announced it will introduce legislation into State Parliament this week for the Victorian Renewable Energy Target (VRET).\u00a0 Renewable Energy\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Renewable energy in Victoria","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/08\/victoria-renewable-energy.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/08\/victoria-renewable-energy.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/08\/victoria-renewable-energy.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/08\/victoria-renewable-energy.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":29468,"url":"https:\/\/www.solarquotes.com.au\/blog\/energy-transformation-irena-mb1010\/","url_meta":{"origin":20661,"position":4},"title":"Energy Transformation Must Be Accelerated : IRENA","author":"Michael Bloch","date":"April 11, 2019","format":false,"excerpt":"More renewables are key to helping reach climate goals says the International Renewable Energy Agency, but we're going to need to pick up the pace. A recently released report from IRENA states boosting renewable energy combined with increased electrification could deliver more than three quarters of the energy-related emission reductions\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"IRENA energy transformation","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/04\/irena-energy-transformation.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/04\/irena-energy-transformation.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/04\/irena-energy-transformation.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/04\/irena-energy-transformation.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/04\/irena-energy-transformation.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":15296,"url":"https:\/\/www.solarquotes.com.au\/blog\/mareeba-solar-farm-mb0221\/","url_meta":{"origin":20661,"position":5},"title":"Approval Granted For 60MW Mareeba Solar Farm","author":"Michael Bloch","date":"September 25, 2017","format":false,"excerpt":"Queensland's Mareeba Shire Council has approved plans for Mareeba Solar Farm, a facility that will boast 196,000 solar panels. It's expected construction of the solar power station near Mareeba, a town on the Atherton Tablelands in the far north of the state, will start next year. 200 jobs will be\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Mareeba Solar Farm","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/09\/mareeba-solar-farm.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/09\/mareeba-solar-farm.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/09\/mareeba-solar-farm.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/09\/mareeba-solar-farm.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/20661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=20661"}],"version-history":[{"count":1,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/20661\/revisions"}],"predecessor-version":[{"id":20663,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/20661\/revisions\/20663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/20662"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=20661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=20661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=20661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}