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The Climate Change Authority last week released its annual assessment of Australia’s progress on cutting emissions. It contains this startling sentence: "Australia is currently deploying renewable energy infrastructure at about half the annual rate needed to reach Australia’s 2030 target." 🐌 The report projects Australia will fall 8GW short of the 33GW in new renewable capacity needed to reach the 2030 target. This gap represents $18 billion of additional investment. Yet financial commitments for new large scale generation 𝗳𝗲𝗹𝗹 from $6.5 billion in 2022 to $1.5 billion in 2023. This slow-down has been blamed on grid constraints, planning and approval processes, higher costs and tighter supply chains. The Authority says the solution is to "substantially accelerate and broaden" the Capacity Investment Scheme, the main vehicle for stimulating renewables investment in Australia. Seems like good advice. Read the full CCA report: https://lnkd.in/e2fJekdY

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Michael O'Reilly

"The value of an idea is in the using of it.” - Thomas Edison

1w

Great data and insights Rob

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