Electricity produced by renewable sources is approaching 10 per cent of Australia’s total power supply, half of the national target for 2020.
The Clean Energy Council’s 2011 review - launched overnight at climate change talks in Durban, South Africa - said renewables’ share of Australian electricity generation had grown by almost one percentage point over the past year, up from 8.7 per cent to 9.64 per cent.
But the growth was driven largely by increased generation of hydro power following heavy rains across the east coast.
Hydro is still far and away the biggest clean energy source in Australia, accounting for 67 per cent of the total, followed by wind power at 22 per cent.
Rooftop solar technology accounts for only 2.3 per cent of all renewable power generated, or a little over 0.2 per cent of total generation.
Despite this, the review said more than 75 per cent of the $5.2 billion invested in renewable energy in Australia in the 2010-11 financial year went on household solar.
Clean Energy Council director Kane Thornton said Australia was ”well on the way to achieving the 20 per cent renewable energy target … extra rainfall in key hydro power catchments made a huge difference.”
But Carbon Market Economics director Bruce Mountain said it was not clear anyone was prepared to make the serious investments needed to meet the 20 per cent renewable energy target by the end of the decade.
”There is little evidence that investment will scale up in time to meet it,” he said.
The council’s review estimates more than 500,000 solar systems have been installed, with almost half between January and August this year - 35 times the number in 2008.
Federal and state governments have slashed subsidies for rooftop solar panels on the back of concerns about rising power prices and budget bottom lines.
While a massive increase in solar investment occurred this year, up from $1.2 billion to $4 billion, investment in wind power projects fell from $1.83 billion last financial year to $1.15 billion in 2010-11.
