A new analysis has found that inflation and supply chain issues have caused significant increases in the cost of renewable energy projects in Australia, with cost pressures likely to remain till the end of this decade.
The Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Australian Energy Market Operator (AEMO) have released a report analysing the latest changes in the costs of electricity generation technologies that could be used for the country’s transition to net zero emissions.
For the first time, the report revealed an increase in the costs of all technologies compared to the previous year.
Specifically, onshore wind led the upward trend with a 35 percent jump in capital costs, followed by a gas open cycle and black coal at 24 percent….