2023 delivered headwinds for new project development in Australia and robust results for new renewable generation capacity added, record-breaking levels of investment decisions for big batteries, and another strong year for rooftop solar installations. With a range of big policy announcements and funding commitments in the last year, the scene is set for 2024 to be a landmark year for the clean energy sector.
The 2024 Clean Energy Australia report provides a comprehensive overview of the latest facts, stats and progress of Australia’s renewable energy transition.
Key statistics from the Clean Energy Australia 2024 Report:
- Renewables accounted for 39.4 per cent of Australia’s electricity generation.
- 5.9 GW of new renewable generation capacity added in 2023.
- 2.8 GW of new large-scale renewable generation capacity completed construction and was added to the grid.
- The rooftop solar sector added 3.1 GW of new capacity from 337,498 households and small businesses and over 56,000 household battery systems were installed in 2023.
- 27 utility-scale batteries under construction at the end of 2023, accounting for a total of 5 GW / 11 GWh combined capacity, up from 19 totalling 1.4 GW / 2 GWh of capacity in 2022.
- $4.9 billion in new investments in large-scale storage during 2023, up from $1.9 billion in 2022.
- No new financial commitments to utility scale wind projects in 2023, compared to six in 2022.
- 7 new financial commitments to large-scale solar projects for a combined 921 MW, down from 10 projects and 1.5 GW in 2022.