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Over the past decade, taxpayers have heavily subsidised virtually every large-scale renewable project undertaken in Australia.
To meet the federal government’s 82% renewable energy target (RET), Australia must retire most of its current coal fleet and replace it with about 6–7 GW of new large-scale renewable generation annually, along with several gigawatts of storage.
Source: AEMO’s 2026 Integrated System Plan (ISP)
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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