Renewables Boom: Australia Climbs Global Leaderboard

17.01.18 By

AUSTRALIA has been named among the top ten nations investing in clean energy, with more than $11.3 billion spent on renewables in 2017, according to new data from Bloomberg New Energy Finance.

The ‘Clean Energy Investment in Australia’ report shows Australia’s investment jumped by 150 per cent last year, skyrocketing Australia to seventh position on the world leaderboard.

Climate Council CEO Amanda McKenzie said it was no surprise that Australia is among the world leaders when it comes to the rollout of clean energy, with states and territory government’s leading the charge.

“Australia is one of the sunniest and windiest nations in the world, so when it comes to solar and wind energy – it’s a winning combination,” she said.

“Australian states have embraced renewables, with South Australia, Queensland and the ACT leading the charge. 2017 alone was also a record breaking year for rooftop solar in Australia, with enough energy to power almost 250,000 homes (1GW) brought online around the country.”

The investment scorecard shows clean energy investment jumped significantly thanks to the Renewable Energy Target and households desperate to take control of rising electricity prices.

The annual report warns of the significant risk to Australia’s clean energy sector under the proposed National Energy Guarantee, highlighting investment could roll backwards by 2020.

“As 2018 gets underway, credible and serious Federal climate and energy policy is crucial to encourage investment in renewables and slash our rising pollution levels. Unfortunately the proposed National Energy Guarantee could do exactly the opposite, with studies showing negligible renewable energy growth under the scheme.”

“The critical window of opportunity to act to tackle climate change is rapidly closing. The Federal Government must act now to protect Australians from worsening extreme weather events such as heatwaves and bushfires.”

“As this scorecard proves – Australians are embracing the solutions. Now, all we need is for the Federal Government to do the same.”

For more information please contact Senior Communications Advisor Alexia Boland on 0438 972 260.

The Climate Council is Australia’s leading climate change communications organisation. We provide authoritative, expert and evidence-based advice on climate change to journalists, policymakers, and the wider Australian community.

For further information, go to: climatecouncil.org.au

Or follow us on social media: facebook.com/climatecouncil twitter.com/climatecouncil