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Australia’s renewables make up 40 per cent of the nation’s energy supply

Clean energy Australia 2024 report found that renewables overall accounted for nearly 40 per cent of Australia’s total electricity supply at 39.4 per cent, while figures for generation capacity added were strong at 5.9 GW, up from 5 GW in 2022.

Clean Energy Council chief executive Kane Thornton said renewables had now reached a critical tipping point in the Australian energy mix.

“We’ve reached a major milestone following 12 months of profound change as industry and governments at all levels continue to work together with a renewed focus on a timely transformation of our energy system,” said Thornton.

The report states renewables comprised 39.4 per cent of Australia’s total generation in 2023, an increase of 9.7 per cent in a single year.

“This is a major increase from 2017, when the share of Australia’s total renewable generation was just 17 per cent,” said Thornton.

2023 was a significant year for construction and new financial commitments to utility-scale storage.

“Twenty-seven battery projects are under construction, up from 19 at the end of 2022. Investment stands at a massive $4.9 billion, up from $1.9 billion in the year prior,” said Thornton.

2023 also saw rooftop solar continue to shine brightly, with 3.1 GW of new capacity added to Australia’s energy system.

“Rooftop solar accounted for 28.5 per cent of all renewable generation nationally over the past year,” said Thornton.

In total, 337,498 households and businesses around Australia installed rooftop solar, up from 315,499 in 2022.

This is a testament to its success in driving additional value and lowering energy bills for over one in three Australian households and small businesses,” said Thornton.

While the past year’s figures indicate some encouraging progress for Australia’s clean energy transition, a significant downturn in investment, particularly in large-scale generation projects, remains an issue for the sector.

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