Electricity in Australia in 2023/2024

Over the past twelve months, from September 2023 to August 2024, Australia's electricity consumption heavily relied on fossil fuels, accounting for over 60% of the total electricity generation. Coal alone provided almost half of the country's electricity at approximately 46%. In contrast, low-carbon energy sources supplied about 37% of the electricity. Among these clean energy sources, solar power contributed nearly 19%, wind power generated approximately 12%, and hydropower provided about 5%. Gas and oil, both fossil fuels, accounted for nearly 15% and a small fraction over 1%, respectively.

Suggestions

To boost low-carbon electricity generation, Australia can focus on expanding its existing solar and wind energy capacities, as these technologies already play a significant role in the country's clean energy portfolio. Learning from countries like Denmark and Uruguay, which generate around 61% and 36% of their electricity from wind respectively, Australia could set similar ambitious targets for wind energy. Additionally, nuclear energy offers a reliable and substantial source of low-carbon electricity, as seen in countries like France, where nuclear power contributes 67% of the electricity. Emulating these successful strategies, Australia can effectively reduce its reliance on fossil fuels and mitigate the negative impacts of climate change and air pollution.

History

Australia has seen a dynamic history of low-carbon electricity development over the years. In the early 1980s, hydropower experienced a slight decline, dropping by 2.4 TWh in 1980. The years 2011 and 2016 saw significant increases in hydropower generation, with rises of 5.8 and 3.5 TWh, respectively. However, this was marred by substantial declines in 2012, 2014, 2017, and 2019. Since 2018, solar and wind energy have shown impressive growth, with solar contributions increasing notably by 7.5 TWh in 2023/2024 alone, and wind energy adding about 4.2 TWh in 2021. This consistent growth in low-carbon sources highlights Australia's progressing shift towards a greener electricity sector.

Electricity Imports and Exports

Balance of Trade

Data Sources