Australia is still trailing well behind 82% renewable target, despite investment bump

Australia has received a welcome investment bump in new financially committed new wind, solar and storage projects in the last quarter, but the country remains well behind the rate of investment needed to reach its declared target of 82% renewables by 2030.

The latest quarterly assessment by the Clean Energy Council says a a particularly strong December quarter of $4.3 billion – the highest in dollar terms since 2018 – rescued an otherwise poor year for new investment in 2022, when just $6.2 billion was committed, half the rate of 2018.