The December Quarter 2020 Carbon Market Report released today by the Clean Energy Regulator (CER) shows two records were achieved last year:
- 7GW of new renewable energy capacity delivered across Australia
- 16 million Australian carbon credit units (ACCUs) issued.
David Parker, Chair of the CER, highlighted that the 7GW of new renewable energy capacity exceeded the Clean Energy Regulator’s original estimate of 6.3GW.
‘Several utility-scale power stations commencing generation and being accredited towards the end of 2020 rather than in early 2021 were the primary drivers for the increase,’ Mr Parker said.
The report also confirms Australia has met its Large-scale Renewable Energy Target of 33,000GWh. The Clean Energy Regulator expects eligible generation could reach 40,000GWh in 2021.
‘It comes as no surprise that total renewable generation in the National Electricity Market (NEM) has climbed to over 30% at the end of 2020, up 5% compared to the previous year,’ Mr Parker said.
2020 also saw a record 16 million ACCUs issued owing to a 25% increase in crediting for savanna burning and 17% increase in crediting for vegetation projects.
For more information, see Highlights for Quarter 4 2020.