The end of 2018 marks a year of great growth for the Australian renewable energy market. Clean Energy Council Chief Executive Kane Thornton shared the details of this success:
“The total value of the projects underway is double where we were at the end of last year. Plus, the wind and solar projects completed in 2018 add up to $4.3bn, taking the total of projects completed or underway this year to more than $18.8bn.”
Thornton continued: “The skills and experience our industry has developed this decade allow new projects to be built more efficiently than ever before, helping to push down projects costs and power prices. Along with the incentives provided by the Renewable Energy Target (RET) and state policies, wind, solar and storage have created an extraordinary opportunity for thousands of people in regional parts of the country.”
Areas to benefit most from this investment include: Queensland ( $6.9bn of investment, creating 4,500 direct jobs); Victoria ($5.2bn of investment, creating 3,800 jobs) and New South Wales ($4.3bn of investment, 3800 direct jobs).
With over 2 million homes now equipped with solar panels, and 80 wind and solar farms under construction, Australia is on track to continue expand its prominence in the renewable energy market into 2019. “It really is an amazing time for this industry,” Thornton concluded.