That might be a catchy 60’s song predicting changing times, but it’s just as relevant to Australia’s energy situation today.
Wind backed electricity is already the “cheapest source of large-scale renewable energy” says the Clean Energy Council.
Which is why the private sector is jumping on the trend. 7 wind farms started up last year, but that’s nothing to the 30 or more commissioned or under construction this year.
The Australian Wind Alliance’s Wind Power in Australia released late last year agreed. It showed that its not only an abundant resource but much cheaper than it’s ever been—down from $150 per megawatt hour in 2000 to $60 per MWH now.
That’s an incredible drop in price. But without credible national government support for renewable energy, Australia draws just under 6% of its electricity from wind despite having enough onshore wind to power the entire country’s electricity more than 12 times over.
A new study shows that most states & territories have now committed to renewable energy targets. South Australia-heading for 73% of renewable electricity in 2 years-has the largest amount of installed wind and solar, closely followed by New South Wales and Victoria.
Almost 10,000 jobs are being created in the renewable energy industry across Australia with 69 wind and solar plants under construction. Queensland, which has ambitious targets in place, has the most projects in the pipeline because the policy landscape is just so much more alluring to investors.
Poor policy at a national level has big impact on ours and our neighbours environmental health. Australia’s greenhouse gas pollution increased for the third consecutive year in 2017 as a result.
A growing clean energy industry also supports Australia’s copper industry. A Navigant Research estimates the U.S. wind energy market will grow by 48.7 GW between 2018 and 2027, boosting copper demand 25% by 2020.
We’ve got a way to go to hit that capacity, but the answer, my friends, is blowing in the wind.
Have a great Christmas & New Year.