Australia Large-Scale Renewable Energy Investment

planned

Australia is experiencing a slump in investment in solar and wind energy projects, with commitments on large-scale farms at the lowest level in almost a decade. The government aims to reach 82% electricity from clean sources by 2030, but structural issues such as state planning delays, grid connection uncertainty, transmission constraints, rising project costs, and lack of long-term revenue certainty are hindering progress. The Clean Energy Regulator expects 2.5GW of renewable energy capacity to reach final investment decision this year, down from 4GW last year. The government has an underwriting program to support solar, wind, and battery projects to replace coal-fired power stations, with more than 16GW of projects under contract or negotiation.