Australia, Commercial, Emissions Reduction Fund, For Installers, Projects, Renewables, Solar, Solar, Solar Projects, Wind Projects

Renewables power on despite recession: CER report

The Clean Energy Regulator’s Quarterly Carbon Market Report for the first three months of this year shows the renewable sector has exhibited remarkable resilience in the face of the covid-19 pandemic.

Despite the national economy shrinking by 0.3% in the first quarter, the CER report shows carbon markets continue to support the economy and employment with an expected $3 billion value in certificate and unit entitlements to be issued this year.

Highlights from the CER’s report for January to March include:

  • 1.3GW of new renewable capacity delivered: 678MW from large-scale and 609MW from small-scale renewables
  • No detected slowdown (as at end of May) in the rate of installation of rooftop solar – the sector is delivering increased capacity of 33% year-on-year
  • 837MW of newly committed large-scale renewable capacity reached financial close throughout the quarter
  • There are good prospects that more than 2GW of new project will reach financial close in 2020.
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