Highlights

  • Emissions reduction from schemes administered by the Clean Energy Regulator reached 53 million tonnes of carbon dioxide equivalent (CO₂-e) in 2020 and is expected to increase to 57 million tonnes in 2021.
  • A record 7 gigawatts (GW) of new renewable energy capacity was delivered across Australia in 2020, up 11% from the 6.3 GW in 2019. Of this, 4 GW was large-scale (2.3 GW wind and 1.7 GW solar) and 3 GW was rooftop solar PV.
  • The Large-scale Renewable Energy Target of 33,000 GWh was met at the end of January 2021. The Clean Energy Regulator expects eligible generation could reach 40,000 GWh in 2021.
  • Australian carbon credit unit (ACCU) supply reached a record 16 million in 2020, up 8% from 14.8 million in 2019. Further supply growth is expected in 2021 reaching over 17 million.
  • 158 projects were registered under the Emissions Reduction Fund in 2020, four times as many compared to 2019. This significant increase will likely contribute to ACCU supply growth in 2022 and beyond.
  • Demand from the voluntary private and state and territory government market surged in 2020 with 4.9 million Australian units and certificates surrendered, four times the volume of 2019.

Downloads

Resources

Webinar – Quarterly Carbon Market Report – December Quarter 2020

This webinar discusses the highlights of the December Quarter 2020 report for ACCUs, LGCs and STCs.

2020 Market outcomes and 2021 Estimates

Click on the image below to download a full-sized version.

2020 market outcomes and 2021 estimates for the Emissions Reduction Fund and Renewable Energy Target

Other Quarterly Carbon Market Reports

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