LNP’s Impact on Queensland’s Renewable Energy Future
The recent re-election of the LNP government in Queensland has cast a shadow of uncertainty over the future of the renewable energy industry in the state. Queensland currently relies heavily on coal for its energy needs, with a substantial 66% share in the energy mix over the past year. Despite this, the state had been making strides in renewable energy, boasting a robust pipeline of projects that positioned it as a leader in construction starts and commissioning activities.
However, the landscape may soon shift as the LNP government has indicated its intention to scrap the mandated renewable energy targets set for 2030, 2032, and 2035, which aimed for 50%, 70%, and 80% renewable energy generation respectively. Additionally, there are reservations about the government’s stance on wind farms, further clouding the future of renewable energy in Queensland.
Challenges and Opportunities in Queensland’s Renewable Energy Sector
Queensland currently hosts a significant pipeline of projects, particularly in onshore wind, large-scale solar, and battery storage. The LNP’s plans include halting the development of the country’s largest pumped hydro project at Pioneer Burdekin, while potentially proceeding with smaller projects like Borumba and other pumped hydro initiatives.
According to analysts at Rystad, Queensland boasts a pipeline of over 120 gigawatts (GW) of renewable energy projects, with 97 GW awaiting financial closure. The state has emerged as a frontrunner in utility-scale renewables, showcasing its commitment to sustainable energy initiatives.
Internal Struggles within the LNP
The future of Queensland’s renewable energy industry hangs in the balance as the LNP grapples with internal divisions between moderate members, led by Premier David Cruisafulli, and the more conservative faction of the party. The latter group is advocating for a shift in the party’s stance on nuclear energy, adding another layer of complexity to the energy policy debate.
While the LNP had previously argued that the renewable energy targets were unattainable, recent assessments by the Queensland Energy System Advisory Board suggest that the state is on track to surpass its original goal of 50% renewable generation by 2030, potentially reaching around 60%.
Future Outlook for Queensland’s Energy Landscape
Despite these developments, the overall energy policy direction of the LNP remains ambiguous, leaving Queensland’s renewable energy future in a state of uncertainty. Queensland stands as Australia’s second-largest state for electricity generation, trailing only behind New South Wales. The state has witnessed a surge in utility-scale renewables and battery projects, with 2.9 GW commencing construction in 2024.
The pivotal question that looms over Queensland’s energy sector is whether the current momentum in renewable energy development will be sustained or if the LNP’s policies will steer the state in a different direction, altering the course of its energy transition.
