Record investment in renewables confirms 2020 Renewable Energy Target will be met early

Media release

4 September 2019

The Liberal National Government has now confirmed we will reach the 2020 large-scale Renewable Energy Target ahead of time, as we continue to support record investment in renewable energy.

The Clean Energy Regulator has advised that the 6,400 megawatts of additional large scale wind and solar generation needed to meet our 2020 target of 33,000 gigawatt hours of renewable energy has now been commissioned. This has been achieved in less than two years, despite many experts saying the target would not be met.

We are a Government that delivers on our promises. Under this Government’s leadership, Australia will beat its 2020 and 2030 emissions reduction commitments while ensuring our economy remains strong. The $3.5 billion Climate Solutions Package maps out how we will achieve our 2030 Paris target down to the last tonne.

In 2018, Australia led the world in clean energy investment, with more than double the per-capita investment of countries like France, Germany and the United Kingdom. With the RET set to be exceeded, investment is not slowing down.

Our challenge is to integrate this investment in a way that delivers an affordable and reliable system. Wind and solar need to be backed up to meet peak demand, which is why the Government has invested $1.43 billion in reliable generation and storage, supporting a high-tech expansion of the Snowy Hydro scheme and the development of MarinusLink, the second Bass Strait interconnector needed to turn Tasmania’s Battery of the Nation vision into reality.

The Government is working with states who are committed to managing this transition in a sensible and balanced way, on everything from keeping existing generation running at full tilt, to the transmission upgrades needed to support reliability.

Only the Liberal National Government has a plan to deliver affordable, 24/7 reliable power, while meeting our emissions reductions commitments.

Minister for Energy and Emissions Reduction