Investment In Renewables at Record High

2018-03-27T21:59:40+00:00

This month, the Australian Clean Energy Regulator released its report for 2016 with some very positive news. Investment in renewable energy in this country hit a record high last year and we are making good progress towards the 2020 RET.

Committment to large-scale investment in renewable energy down under reached $4 billion last year, more than 5 times higher than in 2015. A massive 86 out of the 98 power plants accredited in 2016 were solar, thanks to the increasing cost-effectiveness and efficiency of photovoltaics.

2016 also saw strong investment in small scale renewables, with more than 180,000 new installations across the country. Almost 15 percent of homes in Australia now have renewable systems, with a large number of them in rural regions.

Rooftop solar and hot water systems now generate over 5000 megawatts of power, which is almost double the amount generated by Australia’s largest power station.

“If this investment momentum continues the 2020 RET can be achieved,” Environment and Energy Minister Josh Frydenberg said.

Small-scale renewable systems and large-scale renewable energy power stations can be used to power homes and businesses from sustainable natural resources, such as the sun, wind and water.

Read the full report here.

To find out more about installing solar or battery storage for your home or business, contact us on 1300 374 357.