renewable energy target

In Australia, the Northern Territory government announced today (27 March) that it will scrap its 50% renewables by 2030 target.

Investment in the global energy transition totaled US$1.1 trillion in 2022 according to analyst firm BloombergNEF, reaching parity with investment in fossil fuels for the first time ever.

The EU will introduce shorter permitting times for solar and renewable energy assets in the most recent addition to its REPowerEU scheme, agreed on by the European Council this week.

Renewable Energy Target auction held in Victoria, Australia, won by six solar PV projects, four of which include battery storage.

Queensland gets about 21% of its energy from renewables, but the state government has just set an increased target of 70% renewables by 2032.

South Korea is planning to change its renewables targets as part of a host of energy policies from the country’s new government, which aims to increase the role of nuclear power.

Rhode Island’s governor signed legislation yesterday that will require 100% of the US state’s electricity to be offset by renewable production by 2033.

Energy giant Statkraft intends to develop 4GW of onshore renewables each year by 2030, an acceleration of its previous 2025 target of 2.5GW - 3GW.

India’s renewable capacity now stands at 109.9GW as of the end of March, with solar accounting for 53.4GW (47%), while another 72GW of solar is either in the pipeline or at bidding phase, according to JMK Research.

The world added record amounts of renewable energy last year with 295GW of capacity deployed, up 6% year-on-year, despite supply chain constraints, project delays and high commodity prices, according to the International Energy Agency (IEA), which also expects nearly 320GW to be deployed this year.