Australia is in the midst of an extraordinary investment boom in large scale wind and solar projects, and battery storage, far beyond what even the industry’s most ardent supporters ever imagined. The latest estimates from the Clean Energy Council show that there is currently $20 billion of wind and solar farms either under construction or about to start because they have reached financial close. This represents some 80 wind and solar farms with some 14.6 gigawatts of capacity.
This does not include the $6 billion of wind and solar projects already completed, means that the total value of wind, solar and storage projects completed or underway this year is more than $26 billion.
A further $2 billion is likely to have been spent on small scale rooftop solar in 2018. Clean Energy Council Chief Executive Kane Thornton said 2018 was unquestionably a record year for the industry. More than 2 million homes now have solar panels, and over 80 wind and solar farms are now under constructed or about to start, he said.