Australia’s Future Energy Direction

Engineer inspecting solar panels with a laptop at a solar power plant.

New details have emerged from the Department of Climate Change, Energy, the Environment, and Water. They hint at what Australia’s energy might look like after 2030. A new plan called the Renewable Energy Guarantee of Origin (REGO) was discussed in the ‘Australian Hydrogen News’ section. This plan wants to keep track of where our green electricity comes from.

Back in December 2022, some ideas were introduced. The latest update gives us more details. It says the REGO plan could start by January 2025. This plan isn’t just about dates. It’s a sign that we’re entering a new age of green energy. REGO plans to introduce new energy certificates. These will replace the old LGC and STC rules. The impact of REGO will likely be felt for many years, even after 2030. It could change the way we think about Renewable Energy Targets (RET) after 2030.

What does this mean for our current energy targets? Changes will happen slowly. Our current energy goals will stay the same up to 2030. But the new REGO plan will start alongside them. Both plans will run together until 2050. This is good news for people looking to invest in energy.

One great thing about REGO is that it includes everyone. All ways of making electricity can get a REGO approval, even those not up to the mark now. But some projects, like GreenPower, might not use this new certificate even if many others do.

REGO also talks about smaller energy projects. We might see more Virtual Power Plants (VPPs) and coordinated energy resources in the future. If they join REGO after 2030, it could change the energy market.

The REGO plan also mentions getting energy from outside Australia. Projects like Sun Cable show this might be possible. But, storing this energy is just as important as making it. The department realises this. They suggest giving certificates based on how much energy we store and use.

The main message? Big changes are coming. Some of it we’ve heard in December. New laws might come in 2024, and everything could start by January 2025. This isn’t just about hydrogen. It’s about the whole energy sector. If you’re in business, you’ll want to keep an eye on this.

This is a summary article from Edge2020 – read the original article.

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