Australian Energy Market Operator Predicts Decrease in Renewable Energy Costs

Sep 18 • News • 1973 Views • No Comments on Australian Energy Market Operator Predicts Decrease in Renewable Energy Costs

A model by the Australian Energy Market Operator has demonstrated the possibility of the cost of renewable energy falling to market rates comparable to those of current fossil fuel-based energies as soon as 2030. Along with news that the Danish government plans to provide half the nation’s power from wind by 2020 (and hopes to reach full renewable energy compliance by 2050), an at least moderately feasible if somewhat speculative timeline begins to emerge in regard to sustainable technologies.

Nearly a decade after Al Gore’s documentary An Inconvenient Truth, little action has been taken to address the issues of climate change on a large scale. The former Vice President himself noted a seeming sea change toward addressing the issues of climate change, stating that “[t]he appearance of more extreme and more frequent weather events has had a very profound impact on public opinion in countries throughout the world…[a] second factor is the sharp and unexpectedly steep decrease in prices for electricity produced from wind and solar and the demand destruction for fossil fuel energy from new efficiency improvements.”

The decrease in the cost of wind-produced energy will certainly be the major driving force behind the adoption of these renewable resources, and as that shift begins to trickle down through the market, perhaps the timeline of turnover adopted by the Dutch will be a model for the rest of the developed world to emulate.

Image credit: ali_pk/Flickr

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