The latest quarterly assessment by Australia’s CEC showed investment in energy storage projects continued to power ahead between July and September 2024, with eight new battery systems that will provide a record 1,235 MW/3,862 MWh of storage capacity reaching financial commitment. That figure was up 95% compared to the same period of 2023. The CEC said the storage investment commitments totaled at least AUD 1.2 billion ($789 million), with several projects not providing publicly available investment data.

There were also 10 new large-scale solar and wind energy generation projects with 1,405 MW of generation capacity and a combined value of AUD 3.3 billion which achieved a final investment decision in the three months to the end of September 2024.