Monday 17/11/2008 Page: 48
IT has been the nation's renewable energy sector leader for the past seven years, but South Australia is about to lose its crown, a report says. A slow-growing electricity market and a need to upgrade transmission lines will put the brakes on future growth, according to Ernst & Young's renewable energy sector report, released today."SA has captured the lion's share of new renewables investment during the past seven years since mandatory renewable energy targets commenced, moving from near-zero renewables in its electricity supply to 17 per cent," it says. "In many respects, it serves as the MRET success story and beacon of what's possible for the rest of Australia." Ernst & Young SA regional managing partner Mark Butcher said other states were now following the lead set by SA.
"The challenge is to attract and retain our share of renewable energy funding going forward,' he said. Mr Butcher said much of SA's renewable energy resources were remote, such as the massive geothermal energy resource more than 3km underground in the Cooper Basin which was 500km from the nearest transmission infrastructure.
"The challenge is to move the power from where it's generated to the markets," he said. Ernst & Young's Jon Dobell said SA had led the nation in wind-power generation. Western Australia will be next.
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