Australia and its major regions are now constantly sourcing over 20% of all electricity from renewable energy, and the reliability of grid is increasing along with variable renewable energy penetration, the technology capacity and innovations tends to deliver this have system wide advantages. Renewable energy is created through electricity generation using sources such as wind, landfill gas, solar, geothermal hydro and biomass. These are the lowest cost with the sustainable solution for Australia’s energy policy crisis and possibly Australia’s largest export industries of the future.
Massive investment in renewable energy infrastructure has resulted in producing jobs for Adelaide city and for other region. NSW’s Energy Minister Don Harwin announced that the government department is planning to invest $28bn in low carbon infrastructure projects in following year and these proposals are under evaluation.
South Australia, with Adelaide and Queensland with the ambition for utilizing almost 50% renewables by 2030 and aiming to unlock the vast scale regional investment and employment opportunities. The expanding ability to harmonize domestic renewables adds suppleness to electricity of the country, while providing sustainable national energy benefits. In comparison, thermal coal, fossil fuels – natural gas, oil, petroleum and shale – are a restricted source of dirty and heavily funded energy components. Main projects of fossil fuels in Adelaide are being owned by multinationals who use tax-haven form offshore marketing hubs and who also have previous background of paying next to no corporate tax in other parts of South Australia.
There are other some valid reasons for renewables being the obvious choice going forward. Renewables are clean, sustainable and need almost no water. Once built, they do not emit carbon emission nor they create air pollution. In most cases, renewable energy technologies needed less maintenance than generators that was traditionally used for fuel sources. Solar panels and wind turbines has been established, they don’t have moving parts and don’t depend on flammable, combustible fuel to operate, Very few maintenance are required hence these technologies are money saving by all means. “The amazing response to the Renewable energy Fund and the multiple range of funding in technologies shows that how much credibility exists in this industry of the future,” Jay Weatherill said.
The government of the state has initiated a project which will support with grants toward the cost of development in Adelaide city. Funds near about AU$150 million are expected to come in November. The projects have three core areas of renewable and clean energy technologies, its main purpose to exploit massive renewable energy and to store energy in bulk. The %50 of fund comprises of grant funding, but the AU$75 million which is a remaining amount, will be available for loans. Major cities from South Australia, mainly Adelaide, considering as a hub which supports the energy projects for the next generation and where future developments on infrastructure will be laid out. The government of the state is calling for tenders from companies which are highly interested for investing in renewable energy and they will have an opportunity to receive support of about $150m through Technology Fund.