The roadmap underpinning the New South Wales Governments plan to accelerate the reduction of its greenhouse gas emissions has been unveiled, with solar technology identified as a key factor in the states shift towards cleaner energy solutions.
In recent weeks, NSW Minister for Energy and Environment, The Hon. Matthew Kean released stage one of the states ‘Net Zero Plan’, a scheme that aims to achieve a 35% reduction in greenhouse gas emissions within the State by 2030 against levels recorded in 2005.
The Net Zero Plan identifies the states shift towards cleaner energy solutions as ‘a global challenge with local opportunities’, of which should provide significant interest to those within the renewables sector.
‘Global demand for low emissions products and services is on the rise’
The Government report points to Australia’s involvement in the ‘Paris Agreement’ as a key accelerator of demand for low emissions products and services. Australia is one of 178 countries to have committed to limiting global temperature rises to below 2 degrees Celsius, with 73 of these countries matching Australia’s commitment of Net Zero emissions by 2050. After US $2.5 trillion was invested in renewable energy technologies over the previous decade, figures suggest that this expenditure will need to be matched year-on-year for the next 15 years if targets associated with the agreement are to be attained, demonstrating a significant opportunity for those with the knowledge and capability to produce renewable energy technologies.
‘Low emission technologies are becoming cost competitive’
One element stimulating an increased global demand of low emissions products and services is a significant increase in the technologies cost competitiveness. The ‘Net Zero Plan’ indicates that ‘the cost of solar generation has fallen by more than 73%’ within the recent decade, adding ‘solar panels and wind turbines are now capable of being manufactured and deployed at scale at significantly lower cost than traditional energy generators’.
In addition, the technologies progression down the ‘cost curve’ has ensured that now is as good a time as ever for organisations to begin investing in solar technology, enabling a significant return on investment, primarily captured through reduced power costs over the coming decade.
CPS National offer a range of renewable energy solutions to assist organisations in reducing their greenhouse gas emissions, with the added benefit of a net positive result to the bottom line. Our extensive Operations and Maintenance offering ensures your medium and large scale solar projects continue to operate efficiently, whilst we also EPC (Engineer, Procure, Construct) medium scale solar (50kW-5MW) and offer commercial large scale solar installation (50kW-200kW).
Contact us for further information regarding the benefits renewable technology can provide your organisation.
View the full ‘Net Zero Plan’ released by the NSW Government.