- Australia’s carbon markets saw a record year in 2021 with almost a third of all electricity generated on average coming from renewable energy sources
- The results were released today in the Clean Energy Regulator’s Quarterly December 2021 Carbon Market Report (QCMR) and are double what it was in 2017
- The improvement was attributed to the fifth year of record-breaking rooftop solar PV installations as well as increased investments in large wind and solar power stations
- A record amount of Large-scale Generation Certificates and Australian Carbon Credit Units were cancelled as the wider community voluntarily show support of renewable energy and reduction of net emissions
Australia’s carbon markets saw a record year in 2021 with almost a third of all electricity generated on average coming from renewable energy sources.
The results were released today in the Clean Energy Regulator’s Quarterly December 2021 Carbon Market Report (QCMR) and are double what it was in 2017.
The improvement was attributed to the fifth year of record-breaking rooftop solar PV installations as well as increased investments in large wind and solar power stations.
Minister for Industry, Energy and Emissions Reduction Angus Taylor said Australia is leading the world with rooftop solar uptake.
“Australia now has more solar generation capacity per person than any country in the world, and more wind and solar than any country outside of Europe,” he said.
“There is an 11 year trend of growth in the share of electricity coming from renewable sources, which bottomed out in 2008-09 at just 7.5% under Labor.
“Last year saw another record for the Emissions Reduction Fund (ERF), with 17 million Australian Carbon Credit Units (ACCUs) issued, representing 17 million tonnes of carbon emissions stored or avoided.”
A record amount of Large-scale Generation Certificates and Australian Carbon Credit Units were cancelled as the wider community voluntarily show support for renewable energy and reduction of net emissions.
According to the Clean Energy Regulator, the units and certificates issued in Australia’s carbon markets decreased emissions by the equivalent of 58 million tonnes in 2021, 9.1 per cent more than in 2020.