The following statement is attributable to Clean Energy Council Chief Executive, Kane Thornton:
“The Clean Energy Council welcomes the Federal Parliament today legislating the continuation of the Capacity Investment Scheme to deliver 23 GW of new renewable energy generation capacity and 9 GW of clean dispatchable capacity by the end of 2030.
“The Capacity Investment Scheme has been crucial in providing investment certainty and is beginning to deliver and underwrite new levels of investment in new energy storage and generation in Australia.
“Long term certainty is critical for the much-needed new investment in clean energy generation that is required to replace old coal generation and drive down power prices.
Clean energy investment levels have increased throughout 2024 to levels unseen since 2018 and the Capacity Investment Scheme is one of the foundational policy measures which has contributed to this result.Kane Thornton Clean Energy Council Chief Executive
“Policy certainty lowers risks for investors, and in turn it lowers energy costs for consumers, so this is important for Australian households and businesses who urgently want to see the cost of their electricity bills fall.”
The Clean Energy Council’s latest Quarterly Clean Energy Investment Report, released earlier today, found seven new large scale renewable energy projects, representing 1,598 MW of new generation capacity and $2.4 billion of capital investment were financially committed in the fourth quarter of 2024.
ENDS
For more information or to arrange an interview, contact:
Liam Straughan
Clean Energy Council Media Officer
+61 409 470 683