The falling cost of wind and solar generation is delivering more than 10,000MW of new renewable capacity to the National Electricity Market. Wind and now large scale solar PV are expected to oversubscribe the Renewable Energy Target by 2020.
These new generators are smaller and more modular than the coal fired generators that have anchored electricity generation in Australia for decades. This has the capacity to significantly reduce barriers to entry in the wholesale market, increasing competition and accelerating innovation.