Clean Energy Regulator says consumers looking to save money on energy but investment in large-scale wind and solar all but stalled
, the increased capacity saw the share of renewable electricity rise to more than 36% of demand in the national electricity market. It is expected that will grow to 40% by December.
But the picture is different for large-scale renewable projects. The regulator has downgraded its expectations amid rising costs for components, engineering and construction. In contrast to the uplift in small-scale renewables, Parker said it was a quiet first half of the year for new large-scale renewable energy investment commitments.
“We’ve downgraded our expectations and now expect 2023 investment may not reach three gigawatts,” Parker said.that the sector is not moving at a fast enough pace to meet an 82% renewable energy target by 2030.that the country’s transition away from fossil fuels was moving too slowly with not enough investment in wind and solar farms.
The regulator said finding ways to streamline grid connection and fast-track new transmission would be critical.
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