Energy Highlights of 2024: The Year in Review

As 2024 concludes, the energy sector has seen transformative progress, from renewable investments to key infrastructure completions and ambitious government initiatives. Here are the top five energy highlights of the year:

1. Energy Bill Relief for WA Households

In June, the Western Australian Government, in collaboration with the Federal Government, announced the first installment of a record $700 Household Electricity Credit. This initiative aims to provide much-needed cost-of-living relief to every WA household, marking a significant step toward supporting families during challenging times.

2. Heat Pump Rebates in NSW

The New South Wales Government launched its Heat Pump Hot Water Rebate under the Energy Savings Scheme (ESS). This program encourages the adoption of energy-efficient heat pump technology, helping households lower energy costs and reduce emissions.

3. AEMO’s Roadmap to Net Zero

The Australian Energy Market Operator’s (AEMO) Integrated System Plan (ISP) 2024 outlined a strategic roadmap for transitioning from coal to renewables. The report emphasized the need for significant investment in renewable energy infrastructure to ensure reliable power for homes and businesses as coal-fired generators phase out.

4. Nuclear Power Found Costlier Than Renewables

An independent report commissioned by the Clean Energy Council revealed that nuclear energy is six times more expensive than renewables for new energy generation in Australia. The findings further solidified renewables as the most cost-effective and sustainable path forward.

5. Milestone for Victoria’s Waste-to-Energy Facility

In April, Yarra Valley Water’s food waste-to-energy facility hit a major milestone by processing over 175,000 tons of food waste. This achievement prevented significant waste from ending up in landfills while generating clean energy for local communities.

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