Australia in midst of $20 billion wind and solar investment boom

by Giles Parkinson, Renew economy

The Coalition government tried to prevent it and failed, and haven’t stopped complaining about it ever since. And now we can see why: Australia is in the midst of an extraordinary investment boom in large scale wind and solar projects, and battery storage, far beyond what even the industry’s most ardent supporters ever imagined.

The latest estimates from the Clean Energy Council show that there is currently $20 billion of wind and solar farms either under construction or about to start because they have reached financial close.

This represents some 80 wind and solar farms with some 14.6 gigawatts of capacity – far beyond that which is required under the mandated renewable energy target, which the Coalition tried to scrap under the Abbott government but only got as far as reducing its target from 41,000GWh to 33,000GWh.

Read more: https://reneweconomy.com.au/australia-in-midst-of-20-billion-wind-and-solar-investment-boom-15379/

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