Australia’s renewable energy pipeline will reach 100 gigawatts (GW) before May, which is a milestone in the country's energy sector.
In January and February 6.65 GW of new capacity from 62 assets were added, said Rystad Energy, the energy research and consulting firm. This is more than double the capacity and number of assets that were added in the same period last year.
“This clearly shows the confidence investors have in Australia’s renewable future and possibly where the renewables sector sees the election outcome going,” says Senior Analyst David Dixon.
These projects added an additional 2.9 GW of solar (up 7% on the solar pipeline), 1.4 GW of wind (up 4% on the wind pipeline) and 2.4 GW of storage (up 25% on the storage pipeline), bringing the total pipeline to 96 GW, according to Rystad Energy RenewableCube.
Also of significance is the storage pipeline grew by 2.4 GW in January and February – just under half the total capacity added last year - compared to a total of 5.6 GW for the entire year of 2018.