2024 was the biggest year for clean energy investment since 2018
Read our summary of the quarterly investment report from Q4 in 2024.
Share this report
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.
$58 billion of clean energy investment, 42,000 jobs foregone by 2030 under Coalition plan
At least $58 billion worth of new private investment in clean energy would be wiped from Australia’s economy, with more than 42,000 full-time equivalent jobs and billions of dollars in community benefits at risk if renewable energy is capped at 54 per cent of Australia’s electricity mix under the Coalition’s energy agenda, new modelling has found.
Op-ed: Coalition nuclear power plan risks energy bill meltdown
Is it just me or have we somehow gone back in time? US President Donald Trump is introducing 1960’s era tariffs and isolationist polices that are creating massive global economic risk and uncertainty.
While here at home, the Federal Coalition is proposing to halt private investment in the lowest cost form of energy generation (renewables) and instead focus on the highest cost forms of generation (nuclear and gas) with 1960’s levels of government ownership and taxpayer funding.
Cheaper batteries set to supercharge Aussie rooftop solar savings
Today’s commitment by Federal Labor to provide a 30 per cent discount on the upfront cost of purchasing a home battery, through its Cheaper Home Battery Program, is a significant and welcome cost of living measure that will supercharge energy savings for the four million Aussies with rooftop solar on their homes.
Budget 2025-26: Short-term energy bill relief with renewables on track to lower future power bills
With over 70 per cent of Australians naming cost-of-living as their priority issue in recent polls, the Clean Energy Council has welcomed the additional $150 energy bill rebate for all Australian families and small businesses in this years’ Federal Budget.
While this short-term relief will be welcomed by Australians, the Clean Energy Council continues to call for a national home battery program that will deliver long-term reductions in power prices.
Green light to unlock Australia's green hydrogen potential
The Clean Energy Council welcomes today’s announcement of the first recipient from the Australian Government’s Hydrogen Headstart program with $814 million in funding allocated to the 1500 MW Murchison Green Hydrogen Project in Western Australia, for the development of a major new renewable ammonia export facility.
