South Australia acted early on renewable energy and our regulatory frameworks are considered to be the most supportive in the country. After exceeding our renewable energy target to generate 33 per cent of electricity from renewable sources by 2020, we now have a new target to generate 50 per cent of the state’s electricity from renewable energy sources by 2025. In 2014/15, 41 per cent of our electricity was generated from renewable sources, including 34 per cent generated from wind energy.
Around $6.6 billion has already been invested in the renewable energy industry and thousands of jobs have been created; around 40 per cent, or $2.4 billion, has been realised in regional areas. The Low Carbon Investment Plan sets a new target of achieving $10 billion investment in low carbon energy generation by 2025.
South Australia was the first jurisdiction to provide a premium feed-in tariff mechanism to support the installation of solar photovoltaic systems. As a consequence, we have the highest penetration of rooftop solar in the National Electricity Market with installations in one in four households, and this continues to grow.