The Australian Clean Energy Council (CEC) announced on the 18th that Australian farmers will profit as much as $1.2 billion (about 1.6 trillion won) by attracting renewable energy projects by 2030.
It’s because renewable energy can contribute to improving farmland productivity and revitalizing the local economy.
The area people plans to offer an extra $200 million (KRW 280 billion) in support for the expansion of rural renewable energy through local resident benefit-sharing programs and native electricity bill support.
CEC analyzed that by 2050, if renewable energy is used, direct advantages of as much as $7.7 billion (roughly 10 trillion won) shall be achieved in comparison with regions that don’t use it.
CEC CEO Kane Thornton said: “The renewable energy transition goes beyond simply maintaining power supplies, it’s providing jobs and alternative income sources for local communities. Over the following 4 years, large-scale wind and solar projects are expected to generate $68 billion in Australia (approx. “It is going to create an economic effect of 95 trillion won.”
Australia’s solar energy installed capability was 29.7 gigawatts (GW) last 12 months, a 15% increase in comparison with 2022, and in the primary quarter of this 12 months, it produced 13.1 terawatt hours (TWh) of electricity, a 13.5% increase in comparison with the identical period last 12 months.
Also, on the 14th, the 4 millionth rooftop solar energy plant was installed in Australia, with a complete capability of 25GW. Last 12 months, rooftop solar energy installation capability was 31.5GW, with roughly 300,000 solar panels installed annually.
Currently, greater than 40% of Australia’s electricity generation comes from renewable sources, including hydro, solar and wind, most of that are positioned in rural and community areas.
Reporter Jaeseung Lee energy@aitimes.com
