Australia: Large-scale energy storage leading renewables investment

https://esdnews.com.au/large-scale-energy-sto...nvestment/

New large-scale energy storage projects continue to lead the way in investment, with four of the last five quarters adding over 2GWh of newly financially committed projects.

The capacity of financially committed renewable electricity generation projects in 2024 (1.6GW) has now surpassed the total for 2023 (1.3GW).

Commitments to new onshore wind energy projects increased, with another 577MW reaching financial commitment in the quarter. This comes after no onshore wind projects reached financial commitment in 2023.

acceleration in financial commitments for generation projects will be required in the second half of the 2024 calendar year in order to achieve an annual run rate of 6-7GW per annum of financial commitments for large-scale generation projects—the rate required to set Australia on the path to the Federal Government’s target of 82% renewable energy generation by the end of 2030.

icymi