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 CEC has welcomed the Albanese Government’s proposed reforms to the Environment Protection and Biodiversity Conservation Act 1999, describing them as a timely and balanced step towards protecting Australia’s environment while delivering the clean, reliable electricity needed.
Decommissioning Security Framework for Renewable Energy Projects
The Decommissioning Security Framework for Renewable Energy Projects establishes a nationally consistent assurance model for clean energy developments.
Clean energy industry proposes new national decommissioning approach to protect farmers
In an Australian first, the Clean Energy Council (CEC), together with the Queensland Renewable Energy Council (QREC), have today announced a national approach to renewable energy project decommissioning and financial security, offering farmers greater certainty while maintaining project viability.
Submission on grid-forming technology access standards approach paper
The Clean Energy Council welcomes the opportunity the opportunity to provide feedback to Australian Energy Market Operator on the grid-forming technology access standards approach paper.
Clean Energy Council Statement - Queensland Energy Roadmap
The Clean Energy Council acknowledges the release of the Queensland Energy Roadmap today by the Queensland State Government.
As coal plants retire, renewables backed by storage provide the lowest-cost and most reliable path to future-proof the State’s energy grid, maintain system security and deliver reliable energy for Queensland households and businesses.
