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Marion Rae

Energy investment off track for 2030 renewables target

Kane Thornton Mick Tsikas Australia Renewable Energy

Renewable energy companies face higher financing costs and a transmission network that cannot cope. (Mick Tsikas/AAP PHOTOS)

Australia could miss its renewable energy target without a big acceleration in financial commitments for new electricity generation in coming months.

The investment readout from the Clean Energy Council, released on Tuesday, showed financially committed renewable generation projects at 1.6 gigawatts so far in 2024, surpassing 2023's woeful total of 1.3GW when solar and wind farms flatlined.

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