Australia’s carbon markets broke new records in renewables and carbon offsets in 2021.
The Clean Energy Regulator’s December Carbon Market Report shows almost one-third of electricity generated in the National Electricity Market in 2021 came from renewable energy sources.
2021 was also the fifth consecutive year of record-breaking rooftop solar PV installations, with 3.2 GW of capacity installed.
Investment in large wind and solar power stations also trended up to 2.9 GW.
The Hon Angus Taylor MP, Minister for Industry, Energy and Emissions Reduction, said Australia continues to lead the world in rooftop solar uptake.
‘Australia now has more solar generation capacity per person than any country in the world, and more wind and solar than any country outside of Europe.
‘Last year saw another record for the Emissions Reduction Fund, with 17 million Australian Carbon Credit Units (ACCUs) issued, representing 17 million tonnes of carbon emissions stored or avoided,’ the Minister said.
The Clean Energy Regulator estimates that the units and certificates issued in Australia’s carbon markets reduced emissions by the equivalent of 58 million tonnes in 2021, 9.1% more than in 2020.
Quarterly Carbon Market Reports Clean Energy Regulator