Tidal Wave of Renewables and Batteries Puts 2030 Target Within Reach

Australia is on track to achieve its target of 82% renewables by 2030 thanks to a record year of solar, wind, and large-scale battery deployments, according to a new Climate Energy Finance (CEF) report. The report highlights 2024 as a pivotal year, with 7.2–7.5 GW of new solar and wind expected, nearly half from rooftop solar alone.

The booming battery sector also plays a critical role, with 4.9 GW / 13 GWh of big battery storage breaking ground, ensuring grid stability as renewable penetration rises. Combined, these developments are projected to push renewables’ share to 45% by 2025 while putting sustained downward pressure on electricity prices.