Quarterly Carbon Market Report – June Quarter 2020

Highlights

6.3 GW of total renewable energy capacity is expected to be delivered this year, matching the record set in 2019.
Small-scale rooftop solar PV installation and capacity accelerated further in Quarter 2 2020 and exceeded expectations with an estimated 677 MW installed. This is a 41 per cent increase on the installed capacity for Quarter 2 2019.
Our previous estimate of 2.7 GW of rooftop solar PV for 2020 is now likely to be exceeded and reach 2.9 GW of installations.
2 gigawatts capacity of large-scale renewable projects has now been accredited for the year to date and expected to reach 3.4 gigawatts for the calendar year.
23 new projects were registered under the Emissions Reduction Fund, bringing total registration in 2020 to 43. Project registrations in 2020 have now surpassed registrations in all of 2019.
383,000 units and certificates (ACCUs and LGCs combined) were voluntarily surrendered, 3.3 times of that seen in Quarter 2 2019. Voluntary demand in 2019-20 financial year is now double the levels in 2018-19. At the end of Quarter 2 2020, the Australian Capital Territory government, surrendered 2.2 million LGCs to show it had achieved its 100 per cent renewable energy target.
Total emissions reduction from the Renewable Energy Target and Emissions Reduction Fund is expected to be approximately 54 million tonnes CO2-e in 2020, compared to 48 million tonnes delivered in 2019.

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