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.
Planned upgrades to WA's main grid a welcome boost to state's energy transition
The Clean Energy Council welcomes the release of the new South-West Interconnected System (SWIS) Transmission plan by the Cook Government, setting out a schedule of upgrades to expand transmission infrastructure and unlock over 2 GW of renewable generation capacity by 2030, and strengthen the competitiveness of local businesses and supply chains in delivering this critical component of the state’s energy transition.
Wind, solar, hydro and storage powering Australia's path to 2035
The Clean Energy Council welcomes today’s announcement by the Federal Government and Climate Change Authority in setting Australia’s next emissions reduction target. These targets are essential to give investors and communities the confidence that Australia is serious about delivering on its climate commitments.
Australia's clean fuel future has plenty in the tank
The Clean Energy Council has welcomed the Albanese Government’s announcement of more than $1 billion to establish a domestic low-carbon liquid fuels industry, describing it as a landmark step in decarbonising Australia’s hardest-to-abate sectors.
Offshore wind support critical to regional Victoria
While today's announcement by the Victorian Government to delay the Victorian offshore wind procurement process is disappointing, we appreciate this will provide more time to ensure the first auction is well-placed to succeed, ultimately seeing the offshore wind sector supporting local regional development for communities in the Latrobe Valley - home to the Gippsland offshore wind zone.
Australia powers ahead on rooftop solar as nation set to achieve 2030 rooftop target - new report
Rooftop solar generated power for more than 4.2 million homes and small businesses - delivered 12.8 per cent of Australia’s electricity in first half of 2025.
