Australia needs to ‘move faster’ on renewables

Australia needs to “move faster” on developing renewable energy and reducing thermal coal generation if the nation wants to remain competitive on a global scale, says Clean Energy Investor Group CEO, Simon Corbell.

The national electricity market saw, for the first time, solar power eclipsing energy generation from coal on the weekend.

However, Mr Corbell noted his group is “not seeing sufficient investment” to allow for Australia to transition to a completely renewable solution for the electricity sector.

“We must plan for the development of the national electricity market in a way that is consistent with the Paris Climate Agreement, and Australia’s international obligations," he said.

“We do need to move faster, and we do need to develop more renewables sooner, and see more thermal generation close sooner if we are to align with global markets.

“Global markets and global investors are looking around the country, around the world.

“They are looking for those markets that are acting consistent with those global expectations, at a geopolitical level and an investor level.”