Government investment in energy projects falls

18th Nov 2011

Completion of new power stations in the last year has dropped according to a new report – providing Australian residents with the opportunity to consider producing their own power.

The annual publication from the Bureau of Resources and Energy Economics (BREE) has revealed that two projects – neither of which was solar based – were completed in the 12 months to October.

The two projects cost a total of $488 million – compared to the 11 projects completed in the previous year worth $3.13 billion.

Resources and energy minister Martin Ferguson warned that the fall in the number of completed electricity projects highlights the need for investment certainty in the electricity generation sector.

"While these figures are encouraging, we still haven't seen the actual investment on the ground in terms of the construction and operation of new plants in recent years that is going to be needed to meet demand,'' Mr Ferguson said.

BREE's report – titled Major electricity generation projects November 2011 – indicates that there were also ten renewable energy projects currently listed in as "committed" or "under construction" stage, including one solar thermal project – Queenland's Kogan Creek Solar Boost.

The expansion – scheduled for completion in 2013 – is a $105 million hybrid generation project looking to add 44 megawatts to existing coal-fired capacity.

A total of 12 less advanced solar power projects were also recorded, with the potential of generating 1,270 megawatts.

According to the report, five solar projects have been added to the major electricity generation projects list since October 2010 – two in New South Wales and one in Queensland, Victoria and Western Australia respectively.

The Queensland based $1.2 billion Solar Dawn project is the largest solar project in terms of capital expenditure and planned capacity – potentially generating up to 250 megawatts.

Data from the bureau also reported that solar power – combined with oil and bioenergy – made up the smallest percentage of Australia's electricity generation in 2009-10 with just three per cent.

However, these numbers are expected to receive a boost in the next 12 months, with the federal government passing legislation to introduce a carbon tax as part of its push for investment in renewable energy.

According to Bloomberg New Energy Finance predictions, the Clean Energy Future package could deliver 5 gigawatts of large-scale solar photovoltaics and 2 gigawatts of large-scale solar thermal by 2020, along with significant residential and commercial solar power.

Posted by Mike Peacock – Solar Correspondent

All solar power news categories

Government Rebate & Regulations
Solar Power & Technology


More Government Rebate & Regulations

The election that could cast a deep shadow on solar power
This just in: You are nothing but a means to profit for big utilities and NSW government
The Tongans know a bad solar deal when they see one
Solar feed-in tariffs: Who's getting screwed?
Australian government at a solar power crossroads
WA government admits fault in solar rebate debacle
WA Government saves millions while solar customers are up in arms
SA's solar feed-in scheme costs to rise higher
CEC slams FIT deregulation in SA
Carbon tax announcement 'just a ripple'
Industry reactions to Rudd carbon price changes
New government 'must be made aware of renewable achievements'
Solar features prominently in ARENA funding plans
Calling all solar panel installers - 'save clean technology grants'
Manufacturers set to see bright side of economic slump?
Coalition government 'could spell bad news for solar'
'Not FIT for purpose' - ACT government on tariffs
QLD government under fire for negative solar stance
China's first trading emissions scheme begins
Details of the Queensland solar controversy
Solar panel reprieve for Queensland
Tasmania's solar future no longer too uncertain
Renewable energy funding on the brink
The Clean Energy Council calls for more renewables
Reactions to renewable energy decisions from the 2013-14 federal budget
Federal budget announcement offers a mixed bag
The impact of the carbon tax
Govt energy efficiency success
Renewable Energy Target achievements
New funding for solar panels
Australia and China further carbon cutting collaboration
Examining Australia's environmental efforts
Renewable Energy Target survives its review
Solar powered cinema a possibility
New licensing will make it easier for solar installers to work across states
Renewable recommendations for WA
Renewable energy target hangs in the balance
Deadline approaching for QLD PV installations under 44 cent solar tariff
Electricity emissions down since carbon tax introduced
Reactions to RET review final report mixed
CCA: RET on track to achieve goals
Experts slam Solar Credits decision
Government support 'needed for commercial solar development'
Shadow ministers slam ARENA withdrawal
Industry expert lauds solar PV impact
Australian Solar Council chief hits back at CCA review suggestion
Australian Solar Council debuts solar electorate map
CCA report 'victory for common sense'
Productivity Commission draft 'good for solar'
SA solar campaign reaches government level
 To get your quotes, please enter your postcode: