Influx of renewables driving ‘structural risks’ to Australia’s thermal generation

PV TECH | An influx of renewables in Australia is driving thermal generation off the grid faster than expected, according to analysts Fitch Solutions.

The company is now predicting a nearly 2.9GW contraction in overall thermal capacity over the next ten years, with older coal plants coming offline as well as new-build plants unlikely to come to fruition.

Cheaper renewable generation has lowered the wholesale energy price in Australia, making it harder for coal to compete. This has been further exacerbated in recent months by the COVID-19 pandemic driving down energy demand.

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