159 view s
Photo by Pixabay from Pexels.

Australia’s large-scale new RE construction hits record high in 2022

Clean energy investments reached $4.2b.

More than 5,000 megawatts of large-scale wind and solar projects have started construction in Australia in 2022, the highest renewable construction commitments on record.

In a statement, the Clean Energy Council added that there is also an increase in investment in energy storage with 19 large-scale batter projects under construction last year for a total capacity of 1,380MW/2004MWh, high than the 921MW/1169MWh in 2021.

Clean Energy Council Chief Executive Kane Thornton also said investment in large-scale clean energy projects was up 17% YoY in 2022 to around $4.2b (A$6.2b). In the fourth quarter alone, investments reached about $2.9b (A$4.29b), the second-highest quarterly since data collection started in 2017.

READ MORE: Australia allocates $81.2m for community batteries

“Australia’s energy mix will undoubtedly now be the beneficiary of greater policy clarity, with climate change and the clean energy transition areas of genuine focus federally, with sensible and ambitious policies. However, we cannot take the sustained growth of renewable energy for granted,” said Thornton.

“To reach the Federal Government’s renewable energy generation target of (82%) by 2030, the pace of deployment for new large-scale projects needs to at least double,” he added.

The share of renewable energy in Australia’s energy generation in 2022 was at 35.9%, up from 32.5% last year.

$1 = A$1.49

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition
Some steps they could take are implementing green tariffs and setting infrastructure funds.
Global clean energy tech market to hit $2t by 2035
This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

Exclusives

Coal-dependent ASEAN told to scale up RE generation
A regional power grid could help governments in their renewable energy transition.
Indonesia told to tap communities in clean energy transition
Solar and wind power managed by villages could generate 96 million jobs over 25 years.
Indonesia to add 90 MW geothermal capacity
Three power plants in West and East Java and North Sumatra will start operating this year.