Key highlights for the second quarter of 2022 include record transactions of Australian Carbon Credit Units (ACCUs), strong investment signal for large-scale renewables, and lower installs continuing for rooftop solar PV.



ACCU market maturing as trading volumes reach record levels

  • More volume was transacted in the ACCU secondary market in Q2 2022 than in any previous quarter. The total transacted volume of 5.5 million ACCUs is nearly 400% more than the same quarter in 2021
  • 231 ERF projects were registered in H1 2022 - higher than total registrations in any previous full year. Soil carbon projects abound, with some relatively small in size.
  • Voluntary cancellations in H1 2022 rose 80% compared to H1 2021, to 724,155 ACCUs.
  • Generic ACCU spot prices increased 15% over the quarter to reach $35.10 and price differential between generic ACCUs and those with environmental and First Nations benefits is also increasing. Savanna fire management ACCUs are reported to have fetched a premium as high as $22.50 over the generic ACCU spot price.

Large scale renewables investment maintains strength

  • 1.6 GW of renewables capacity reached final investment decision in H1 2022 and could exceed the 2.9 GW seen in 2021.
  • LGC prices passed $50 for the first time since November 2019 in the quarter, signalling further investment in renewables is needed.

Small scale solar PV stable at the lower level seen in Q1

  • Small-scale solar PV installed capacity was 1,144 MW in H1, 27% lower than the same period in 2021. It still remains on track for 2.3 GW to be installed in 2022.

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2022 QCMR June quarter market outcomes infographic

2022 June quarter market outcomes and tracking against estimates