Quarterly Carbon Market Report – March Quarter 2020

Highlights

1.3 gigawatts of new renewable capacity delivered: 678 megawatts from large scale and 609 megawatts from small scale renewables
No detected slowdown (as at end of May) in the rate of installation of rooftop solar, this sector is currently delivering increased capacity of 33 per cent year on year.
837 megawatts of newly committed large-scale renewable capacity reached financial close throughout the quarter, there are still good prospects that in excess of 2 gigawatts of new project will reach financial close in 2020.
The tenth Emissions Reduction Fund auction secured 1.7 million tonnes of carbon abatement from 12 contracts and 11 projects at an average price of $16.14 per tonne, for a total commitment of $27.6 million.
Carbon markets for the Emissions Reduction Fund and Renewable Energy Target are expected to deliver at least 57 million tonnes of emissions reduction in 2020, up from 49 million tonnes in 2019.
rural and regional Australia as the driving force behind carbon abatement, accounting for 82 per cent of all carbon abatement across the country.

For a list of all other published reports, please see Quarterly Carbon Market Reports.