Electricity in Australia in 2023/2024

In the period from December 2023 to November 2024, Australia's electricity consumption was dominated by fossil fuels, which accounted for a little over 60% of the total. Within this category, coal was the largest contributor, making up about 45% of electricity generation, followed by gas at approximately 15%. Low-carbon or clean energy sources, encompassing solar, wind, and hydroelectric power, constituted about 38% of the electricity generated. Solar energy was the most significant low-carbon contributor, accounting for nearly 19%, with wind power and hydropower contributing around 13% and 5% respectively. The reliance on oil was minimal, contributing only about 1% to the country's electricity needs.

Suggestions

To increase its low-carbon electricity generation, Australia could focus on expanding its already significant solar and wind energy industries, capitalizing on its ample sun and wind resources. By investing in these technologies, Australia can further reduce its dependency on fossil fuels. Additionally, Australia can learn from countries like Denmark and Lithuania, which have seen substantial success with wind power, contributing approximately 59% and 34% to their electricity generation, respectively. Exploring the potential of nuclear energy, which countries like France have utilized effectively for clean electricity, could also be a viable path for Australia, helping it move toward a more sustainable and green future.

History

Historically, Australia's journey towards low-carbon electricity generation has seen significant progress, especially since the late 2010s. In the early 2010s, hydropower's contribution fluctuated, with notable increases in 2011 and 2016, but also saw declines in other years. The landscape began to change significantly starting in 2018, when solar power added 3.4 TWh and wind contributed 3.1 TWh. This upward trend continued in the following years, with solar and wind adding substantial capacities annually from 2019 through 2024. Solar power, in particular, had strong growth, with increases like 7.3 TWh in 2021 and 7.5 TWh in 2023. Wind energy also saw steady gains, such as the 4.2 TWh boost in 2021. These developments mark a decisive shift towards greener electricity generation, demonstrating Australia's commitment to expanding its clean energy capacities.

Electricity Imports and Exports

Balance of Trade

Data Sources