Australia just secured $3.3 billion to add 1.4 gigawatts (GW) of new solar and wind projects! With ten new projects receiving a financial go-ahead in Q3 2024, Australia’s renewable energy landscape is looking stronger than ever. These projects, together with eight new large-scale battery storage systems, total over 1,235 megawatts (MW) of energy storage capacity, setting a new record.
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The Clean Energy Council’s quarterly report highlights a promising shift: renewable projects are not only moving forward but expanding quickly, suggesting that economic conditions are improving for green investments. The third quarter alone surpassed 1 GW in commitments, a first since late 2022, and we're seeing a steady trend towards achieving the government’s 82% renewable target by 2030.
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For Australian homes, this means greater stability in energy supply, potential reductions in power costs, and more robust support for the grid during peak times. With renewables making up over 40% of Australia’s energy mix, we’re well on the way to a greener, more sustainable future, one big step at a time.
Source: 1.4 GW of new renewable generation gets go-ahead for construction – pv magazine Australia
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