Australia achieved record levels of carbon abatement and renewable energy generation over the 2020 financial year.
Bolstered by increased of levels of investment by the private sector and the continued emergence of lower cost technology whereby wind and solar continue to deliver the cheapest sources of new electricity generation capacity.
The GenCost assessment estimates that the levelised cost of new wind and solar projects will likely fall below $50 per MWh in the near future.
CSIRO’s chief energy economist Paul Graham says that the latest iteration of the GenCost report considered the costs of storage technologies and transmission network investment and found that the continued development of solar and battery technologies would further drive down costs in coming decades, with wind energy also reducing in costs as turbines technologies shift to larger and more efficient models.
Investment trends indicate that the renewable energy sector is poised for growth in 2021. PrimaryMarkets has listed a number of investment opportunities in renewable energy sector covering, pumped hydro, energy storage, solar and water recycling.
Featured Investment Opportunities in Renewable Energy