Australia expands renewable energy push with major increase to capacity investment scheme

Australia expands renewable energy push with major increase to capacity investment scheme

Australia will boost its main renewable energy program by 25%, aiming to underwrite 40 gigawatts of large-scale solar, wind, and storage by 2030 amid warnings it may miss its climate targets.Adam Morton reports for The Guardian.In short:The expanded scheme targets 26GW of new generation and 14GW of storage, nearly doubling the energy output of Australia’s coal fleet.Falling costs for solar panels and batteries — down 8% and 20% over the past yea…

Australia Boosts Clean Energy Financing Scheme to 40 GW by 2030

The government of Australia announced a significant expansion of its Capacity Investment Scheme (CIS), its key tool aimed at de-risking investments in clean energy at scale, with a new target to deliver an additional 40 GW in renewable energy and storage capacity by 2030, up from its prior 32 GW goal. The CIS program is […]

Australia uplifts Capacity Investment Scheme target to 40GW of renewables and energy storage

Australia’s minister for climate change and energy, Chris Bowen, has confirmed that the Capacity Investment Scheme (CIS) will be upsized from 32GW to 40GW.

Federal renewables subsidy scheme expanded to 40 GW

The federal government is scaling up its support for renewables, expanding its flagship Capacity Investment Scheme in a bid to accelerate Australia’s clean energy transition.Australia’s Capacity Investment Scheme (CIS) will be expanded to support 40 GW of new solar, wind and dispatchable capacity as the federal government works to meet its target of 82% renewables by 2030. Federal Energy Minister Chris Bowen is to announce that the CIS, which pr…