Source: Pexels
Investments in renewable energy reached $1.56b in June 2022, the Australian Bureau of Statistics (ABS) reported.
This is up from only a $97.2m investment in March 2016, and down from $1.74m in 2018 when it peaked.
“In the 2016-17 financial year the value of work done on renewable projects was $865.9m compared to $5.51b in 2021-22,” the ABS noted.
“While the total power generated remained at a similar level over this period, generation from renewable sources has more than doubled.”
ABS data showed that renewable energy generation in June 2022 stood at 17,822 gigawatt-hours, up from 8,099GWh in 2016. RE generation peaked in December 2021 when it reached 19,913GWh.
The share of renewables generation also went up from 14.3% in March to a peak of 36.2% in December 2021. In June 2022 renewable generation made up 31.6% of electricity generated.
