2024 was the biggest year for clean energy investment since 2018
Read our summary of the quarterly investment report from Q4 in 2024.
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13 Feb 2025
Renewable energy investment reached new highs in 2024 with a massive $9 billion invested in renewable energy projects across the year, along with 10,000 new jobs.
The Quarterly Investment Report revealed that Australia had its best year for large-scale renewable energy investment since 2018 with 4,346 MW of new generation capacity.
Pleasingly 4,029MW / 11,348 MWh of new energy storage projects were also committed over the year.
The quarterly result, which saw 1,598 MW of new generation capacity committed across seven projects is in line with the pace required for Australia to maintain its timely transition to a grid powered by clean energy, in the face of ageing and increasingly unreliable coal fired power stations.
Highlights for the quarter include:
The rolling 12-month average reached 3,282 MWh of energy output in Q3. This represents a 95% increase from the same period last year and highlights our ongoing commitment to ensuring grid stability when renewable generation fluctuates.
The Clean Energy Council and the Clean Energy Investor Group, Australia’s leading clean energy industry and investment peak bodies, warn that political grandstanding over net-zero targets risks undermining the investor confidence and policy certainty needed to build the cheap, clean and reliable power that Australians need.
Clean Energy Council welcomes NSW Liberals' support for Net Zero
The Clean Energy Council has welcomed the NSW Liberal Party’s reaffirmed commitment to Net Zero by 2050 and recognition that New South Wales must replace its ageing coal-fired power stations with modern, clean energy alternatives.
Clean Energy Council response to the Coalition's net zero announcement
The politics of net zero does not change the physics of our electricity system. Australia’s coal-fired power stations are closing whether we like it or not — more than 90 per cent are due to retire in the next decade. The fastest and cheapest option to replace the power is solar, wind backed by batteries and a bit of gas.
Submission to the AEMC on Integrated Distribution System Planning - Directions Paper (ERC0410)
The CEC supports the objectives of the proposed rule change and sees it as critical to enabling consumer energy resources (CER) uptake and virtual power plant (VPP) services by reducing uncertainty, improving hosting capacity visibility and lowering risk of stranded or constrained CER assets.
Joint submission into the inquiry into the Environment Protection Reform Bill 2025
We write with a joint submission on behalf of the Smart Energy Council and the Clean Energy Council. We have prepared this submission at the request of the Committee and in advance of our anticipated appearance at a Committee hearing on 14 November 2025.
Submission on VicGrid’s proposed changes to the connections and access framework
We welcome this opportunity to comment on VicGrid’s proposed draft connections and access consultation paper and the draft Grid Impact Assessment (GIA) Guidelines that will underpin the proposed connections and access regime to apply in Victoria from early 2026.
