CER’s 2022 Report: Rooftop Solar Made Rapid Recovery, Strong Investment Surges For Large-Scale Renewables
- Renewable energy met a record average of 35% of demand in the National Electricity Market (NEM) in 2022, with more than 40% in Q4.
- Total new investment in wind and solar hit a record 7.1 gigawatts (GW)
– 4.3 GW of large-scale wind and solar energy projects reached a final investment decision (FID) in 2022 – a 50% increase over 2021.
– 2.8 GW of small-scale solar PV capacity was installed in 2022, the third highest annual capacity installed on record. The H2 trend suggests a more significant year in 2023.
- A 5.3 GW of new renewable energy capacity was added to the grid in 2022.
– 2.5 GW of new capacity was approved for large-scale generation certificate (LGC) creation in 2022. A similar level of capacity is expected to be approved in 2023.
“This large step up in wind and solar investment – big and small – in the second half of 2022 is a positive step in transitioning our electricity system to the government’s goal of 82% renewable energy by 2030,” according to Mr Parker.
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