AUSTRALIA IS POWERING ahead in its uptake of renewables, with investment in large-scale clean energy projects doubling between 2017 and 2018.
A new report from The Clean Energy Council has found investment in large-scale renewables increased from $10 billion in 2017 to $20 billion in 2018, with 38 projects completed throughout the year.
“This is excellent news. It shows that business is well ahead of the government when it comes to transitioning to the new economy. This large-scale investment created almost 11,000 new jobs, many of which are located in rural and regional areas,” said the Climate Council’s CEO, Amanda McKenzie.
“This year looks even brighter. Eighty-seven large-scale renewable energy projects are under construction or have been financially committed,” she said.
“Jumping on board the global renewables boom is a win-win for the nation. It will ensure we cut our emissions, which have been rising year on year, as well as drive investment and jobs,” she said.
“Australia still lacks any credible climate and energy policy at a federal level, yet we are still witnessing incredible growth across the country in clean energy,” said Ms Mckenzie.
The cost of new wind and solar, backed by storage, is now lower than the cost of new coal generation.
“As one of the sunniest and windiest countries in the world, imagine what we could achieve with credible policies in place,” she said.
