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Renewable Energy Boom: Australia Investors Record Levels

Record levels of renewable energy investment is underway in Australia, as government and other major institutions place billions in new commitments.

The Guardian reported this week financial commitments to renewables and storage totaled A$4.29bn in the December quarter, a 10-fold increase on the previous three months.

“Australia is deploying new large-scale generation – wind and solar farms – more slowly than needed to reach the 82% target for renewable energy on the National Electricity Market” by 2030, Australian Clear Energy Council’s Kane Thornton said.

NSW led with its five projects accounting for 1,559MW in 2022. Victoria claimed second spot with its four new projects adding 945MW of new capacity, ahead of Queensland’s three projects with 495MW.

More The Guardian Australia.

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