He said enough new wind and solar farms are needed to generate 134 gigawatts of power, more than double existing capacity.
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The grid will also need an additional 86 gigawatts of rooftop solar, which currently has a capacity of 18 gigawatts, as well as an additional 75 gigawatts of distributable energy from projects such as hydro pumping, batteries and gas plants.
The Albanian government's existing plan to double the share of renewable energy on the grid to 82% by 2030 is well behind schedule, putting Australia at greater risk of blackouts and volatile prices during the transition.
Since the 2022 election, the Albanian government has approved projects that will deliver 8.4 gigawatts of power, which Environment Minister Tanya Plibersek says is double the approval rate of the former government of Morrison, but only a fraction of the total requirement.
Wind farm approvals are also a problem, with only two approved in the past 17 months. Regional communities across the country have organized campaigns against renewables and AEMO said the government needs to do more to get community support.
Energy Minister Chris Bowen said: “AEMO tested 1,000 scenarios to identify the lowest-cost plan that would also meet our growing electricity needs and keep the grid reliable out to 2050.”
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Opposition Leader Peter Dutton has blasted the government's massive renewable energy plan as unworkable and promised a future coalition government would build seven nuclear power stations across the country, with the first coming online before the 2037, to complement renewables.
The AEMO plan does not assess the costs of nuclear power because it is currently prohibited by federal law.
But he said nuclear “is one of the most expensive ways to generate electricity” and warned that building the plants “would be too slow to replace retiring coal generation”.
The loss of bipartisan support for Australia's climate goals has worried investors who have poured billions of dollars into green energy projects and has already forced some to reconsider long-term renewable energy spending plans.
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