Approximately 40% of all Australian electricity will be generated from renewables by 2030, says consulting firm McKinsey.
The report states that 37% of Australian electricity could come from renewable sources, compared to 14% which was recorded in 2014.
“Overall consumption in 2030 is expected to be 21% higher than it is today, and the mix of fuels that supplies it will likely change as a result of increased renewable penetration and action to reduce (carbon dioxide equivalent) emissions intensity,” the report read.
Australia’s power sector continues to rely on gas to supply power during periods of high demand, however, renewable energy will create a sustainable future as it will effectively lower the cost of coal-fired generation.
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