The ABS will be closed from 12.00pm, 24 December 2024 and will reopen at 9.00am, 2 January 2025. During this time there will be no statistical releases and our support functions will be unavailable. The ABS wishes you a safe and happy Christmas.

Value of renewable energy construction, June 2024

This article presents experimental estimates for the level of investment in utility scale renewable energy generating assets from 2016 onwards.

Released

18/12/2024

Source

Engineering Construction Activity, Australia, June 2024

Introduction

Overview

This article presents experimental estimates for the level of renewable investment in the electricity generation, transmission and distribution sector from the March quarter 2016 to the June quarter 2024.

The level of investment in renewable generation and storage technology has increased significantly since 2016-17. Commencements for renewable projects reached their highest level in 2022-23 while the value of work done on renewable projects reached its highest level in the 2023-24 financial year. Both renewable and other electricity investment recorded their highest quarterly levels of work done in the June 2024 quarter. The increase in other electricity investment in June 2024 highlights the increased investment in transmission and infrastructure following the sustained investment in renewable generation assets.

Investment in renewable generation has been impacted by various factors over the period highlighted. These include a changing regulatory environment, access to finance, grid capacity constraints and the COVID pandemic. The impact of these factors is not discussed explicitly in the analysis presented in the article however should be kept in mind when interpreting the findings.

Source

Investment data has been sourced from the Engineering Construction Survey, which is published in Construction Work Done, Australia, Preliminary, and Engineering Construction Activity, Australia quarterly publications. Data is collected under the type of work 'Electricity Generation, Transmission, and Distribution', and has been broken down by type of investment for the purpose of this article. The data presented will not be available on an ongoing quarterly basis.

This is not a comprehensive account of economy wide investment in renewable energy and the following considerations should be taken into account:

Rooftop photovoltaic systems are out of scope for the Engineering Construction Survey.
Given electricity investment includes transmission and distribution data as well as generation, the information presented should not be read as an analysis of new generation projects only.
While the renewable data is primarily generation and storage investment, data pertaining to other assets includes non-generation investment such as maintaining and expanding existing transmission networks.

More detail on the scope of the data presented can be found under the 'Method' section below, or by accessing the Engineering Construction Activity methodology page.

Electricity generation, transmission and distribution investment

Total electricity investment, Australia ($m)
Financial Year	Renewable Investment, Commencements ($m)	Renewable Investment, Work Done ($m)	Other Electricity Investment, Commencements ($m)	Other Electricity Investment, Work Done ($m)
2016-17	1,353.2	865.9	7,124.8	7,133.2
2017-18	7,368.4	4,919.0	7,926.0	8,050.2
2018-19	7,997.8	5,412.3	7,352.3	8,412.8
2019-20	1,874.5	5,342.7	7,499.8	7,560.4
2020-21	5,718.1	3,813.3	7,156.5	7,606.6
2021-22	4,062.7	5,674.1	9,220.3	9,076.2
2022-23	9,278.9	7,026.4	12,559.0	10,700.2
2023-24	5,777.5	8,367.7	11,006.1	13,251.0

Total electricity investment, Australia ($m)

["Financial Year","Renewable Investment, Commencements","Renewable Investment, Work Done","Other Electricity Investment, Commencements","Other Electricity Investment, Work Done"]

[["2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23","2023-24"],[[1353.2],[7368.3999999999996],[7997.8000000000002],[1874.5],[5718.1000000000004],[4062.6999999999998],[9278.8999999999996],[5777.5]],[[865.89999999999998],[4919],[5412.3000000000002],[5342.6999999999998],[3813.3000000000002],[5674.1000000000004],[7026.3999999999996],[8367.7000000000007]],[[7124.8000000000002],[7926],[7352.3000000000002],[7499.8000000000002],[7156.5],[9220.2999999999993],[12559],[11006.1]],[[7133.1999999999998],[8050.1999999999998],[8412.7999999999993],[7560.3999999999996],[7606.6000000000004],[9076.2000000000007],[10700.200000000001],[13251]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"1","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"($m)","axis_units":"","tooltip_units":"($m)","table_units":"($m)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

There has been a significant increase in the value of both commencements and work done in renewable projects since the 2016-17 financial year. The level of commencements reached its peak at $9,278.9m in 2022-23, while the level of work done reached its peak at $8,367.7m in 2023-24.

While the level of work done increased at a relatively steady rate, the level of commencements was more volatile during the period from 2016-17 to 2023-24. Following a surge in the 2017-18 and 2018-19 financial years, commencements for renewable projects fell sharply to $1,874.5m in 2019-20. This resulted in a 28.6% fall in the level of work done on renewable projects in 2020-21, decreasing from $5,342.7m to $3,813.3m. Commencements rebounded to higher levels between 2020-21 and 2023-24, resulting in higher levels of work done between 2021-22 and 2023-24.

The estimated pipeline of 'work yet to be done' on renewable projects that have commenced sits at $16,264.8m at the end of the 2023-24 financial year.

The estimated level of work done on other electricity related assets remained relatively constant between 2016-17 and 2020-21, followed by an increase to reach its highest level at $13,251.0m in 2023-24.

Value of work done, quarterly ($m)
Date	Other Electricity ($m)	Renewables ($m)	Total ($m)
Mar-16	1,501.8	97.2	1,599.1
Jun-16	1,937.5	165.2	2,102.7
Sep-16	1,597.0	104.1	1,701.1
Dec-16	1,788.6	112.7	1,901.3
Mar-17	1,747.3	192.8	1,940.1
Jun-17	2,000.4	456.2	2,456.6
Sep-17	1,881.8	896.1	2,777.9
Dec-17	2,168.6	1,120.5	3,289.2
Mar-18	1,830.1	1,397.3	3,227.4
Jun-18	2,169.7	1,505.1	3,674.8
Sep-18	2,010.7	1,158.5	3,169.2
Dec-18	2,214.5	1,741.1	3,955.6
Mar-19	1,938.9	1,180.6	3,119.5
Jun-19	2,248.7	1,332.0	3,580.7
Sep-19	1,906.1	1,344.4	3,250.5
Dec-19	1,868.5	1,491.6	3,360.1
Mar-20	1,812.7	1,083.9	2,896.7
Jun-20	1,973.1	1,422.8	3,395.9
Sep-20	1,871.7	1,058.9	2,930.6
Dec-20	1,991.1	775.2	2,766.3
Mar-21	1,722.3	774.6	2,497.0
Jun-21	2,021.6	1,204.6	3,226.1
Sep-21	2,021.4	1,536.5	3,557.9
Dec-21	2,293.4	1,331.6	3,625.0
Mar-22	2,065.3	1,181.2	3,246.4
Jun-22	2,696.1	1,624.9	4,321.0
Sep-22	2,559.5	1,652.9	4,212.4
Dec-22	2,527.6	1,529.5	4,057.1
Mar-23	2,607.3	1,905.3	4,512.6
Jun-23	3,005.9	1,938.6	4,944.5
Sep-23	2,933.7	1,986.5	4,920.3
Dec-23	3,435.7	1,905.2	5,341.0
Mar-24	2,983.5	2,090.4	5,073.9
Jun-24	3,898.0	2,385.6	6,283.6

Value of work done, quarterly ($m)

["Date","Other Electricity","Renewables","Total"]

[["Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24"],[[1501.8],[1937.5],[1597],[1788.5999999999999],[1747.3],[2000.4000000000001],[1881.8],[2168.5999999999999],[1830.0999999999999],[2169.6999999999998],[2010.7],[2214.5],[1938.9000000000001],[2248.6999999999998],[1906.0999999999999],[1868.5],[1812.7],[1973.0999999999999],[1871.7],[1991.0999999999999],[1722.3],[2021.5999999999999],[2021.4000000000001],[2293.4000000000001],[2065.3000000000002],[2696.0999999999999],[2559.5],[2527.5999999999999],[2607.3000000000002],[3005.9000000000001],[2933.6999999999998],[3435.6999999999998],[2983.5],[3898]],[[97.200000000000003],[165.19999999999999],[104.09999999999999],[112.7],[192.80000000000001],[456.19999999999999],[896.10000000000002],[1120.5],[1397.3],[1505.0999999999999],[1158.5],[1741.0999999999999],[1180.5999999999999],[1332],[1344.4000000000001],[1491.5999999999999],[1083.9000000000001],[1422.8],[1058.9000000000001],[775.20000000000005],[774.60000000000002],[1204.5999999999999],[1536.5],[1331.5999999999999],[1181.2],[1624.9000000000001],[1652.9000000000001],[1529.5],[1905.3],[1938.5999999999999],[1986.5],[1905.2],[2090.4000000000001],[2385.5999999999999]],[[1599.0999999999999],[2102.6999999999998],[1701.0999999999999],[1901.3],[1940.0999999999999],[2456.5999999999999],[2777.9000000000001],[3289.1999999999998],[3227.4000000000001],[3674.8000000000002],[3169.1999999999998],[3955.5999999999999],[3119.5],[3580.6999999999998],[3250.5],[3360.0999999999999],[2896.6999999999998],[3395.9000000000001],[2930.5999999999999],[2766.3000000000002],[2497],[3226.0999999999999],[3557.9000000000001],[3625],[3246.4000000000001],[4321],[4212.3999999999996],[4057.0999999999999],[4512.6000000000004],[4944.5],[4920.3000000000002],[5341],[5073.8999999999996],[6283.6000000000004]]]

[]

[{"value":"0","axis_id":"0","axis_title":"Quarter","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"($m)","axis_units":"","tooltip_units":"($m)","table_units":"($m)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Value of work done, quarterly ($m)
Date	Other Electricity	Renewables
Mar-16	1,501.8	97.2
Jun-16	1,937.5	165.2
Sep-16	1,596.0	104.1
Dec-16	1,788.6	112.7
Mar-17	1,747.3	192.8
Jun-17	2,000.4	456.2
Sep-17	1,881.8	896.1
Dec-17	2,168.6	1,120.5
Mar-18	1,830.1	1,397.3
Jun-18	2,169.7	1,505.1
Sep-18	2,010.7	1,158.5
Dec-18	2,214.5	1,741.1
Mar-19	1,938.9	1,180.6
Jun-19	2,248.7	1,332.0
Sep-19	1,906.1	1,344.4
Dec-19	1,868.5	1,491.6
Mar-20	1,812.7	1,083.9
Jun-20	1,973.1	1,422.8
Sep-20	1,871.7	1,058.9
Dec-20	1,991.1	775.2
Mar-21	1,722.3	774.6
Jun-21	2,021.6	1,204.6
Sep-21	2,021.4	1,536.5
Dec-21	2,293.4	1,331.6
Mar-22	2,065.3	1,181.2
Jun-22	2,696.1	1,624.9
Sep-22	2,559.5	1,652.9
Dec-22	2,527.6	1,529.5
Mar-23	2,607.3	1,905.3
Jun-23	3,005.9	1,938.6
Sep-23	2,933.7	1,986.5
Dec-23	3,435.7	1,905.2
Mar-24	2,983.5	2,090.4
Jun-24	3,898.0	2,385.6

Value of work done, quarterly ($m)

["Date","Other Electricity","Renewables"]

[["Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24"],[[1501.8],[1937.5],[1596],[1788.5999999999999],[1747.3],[2000.4000000000001],[1881.8],[2168.5999999999999],[1830.0999999999999],[2169.6999999999998],[2010.7],[2214.5],[1938.9000000000001],[2248.6999999999998],[1906.0999999999999],[1868.5],[1812.7],[1973.0999999999999],[1871.7],[1991.0999999999999],[1722.3],[2021.5999999999999],[2021.4000000000001],[2293.4000000000001],[2065.3000000000002],[2696.0999999999999],[2559.5],[2527.5999999999999],[2607.3000000000002],[3005.9000000000001],[2933.6999999999998],[3435.6999999999998],[2983.5],[3898]],[[97.200000000000003],[165.19999999999999],[104.09999999999999],[112.7],[192.80000000000001],[456.19999999999999],[896.10000000000002],[1120.5],[1397.3],[1505.0999999999999],[1158.5],[1741.0999999999999],[1180.5999999999999],[1332],[1344.4000000000001],[1491.5999999999999],[1083.9000000000001],[1422.8],[1058.9000000000001],[775.20000000000005],[774.60000000000002],[1204.5999999999999],[1536.5],[1331.5999999999999],[1181.2],[1624.9000000000001],[1652.9000000000001],[1529.5],[1905.3],[1938.5999999999999],[1986.5],[1905.2],[2090.4000000000001],[2385.5999999999999]]]

[]

[{"value":"0","axis_id":"0","axis_title":"Quarter","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"($m)","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

The value of work done for renewable and other electricity reached its highest levels in June 2024 at $2,385.6m and $3,898.0m respectively. The combined value of work done for renewable and other electricity peaked at a historical high of $6,283.6m in June 2024. The increase in other electricity investment in June 2024 highlights the increased investment in transmission and infrastructure following the sustained investment in renewable generation assets.

Renewable project investment, quarterly ($m)
Date	Renewable Work Done	Renewable Commencements
Mar-16	97.2	149.9
Jun-16	165.2	578.7
Sep-16	104.1	177.7
Dec-16	112.7	153.1
Mar-17	192.8	407.1
Jun-17	456.2	615.3
Sep-17	896.1	1,946.6
Dec-17	1,120.5	923.6
Mar-18	1,397.3	2,689.4
Jun-18	1,505.1	1,808.8
Sep-18	1,158.5	1,537.5
Dec-18	1,741.1	1,750.3
Mar-19	1,180.6	1,804.2
Jun-19	1,332.0	2,905.8
Sep-19	1,344.4	738.0
Dec-19	1,491.6	339.4
Mar-20	1,083.9	319.3
Jun-20	1,422.8	477.8
Sep-20	1,058.9	1,443.9
Dec-20	775.2	1,193.3
Mar-21	774.6	1,569.0
Jun-21	1,204.6	1,511.9
Sep-21	1,536.5	1,208.0
Dec-21	1,331.6	376.6
Mar-22	1,181.2	1,951.7
Jun-22	1,624.9	526.4
Sep-22	1,652.9	981.6
Dec-22	1,529.5	3,995.0
Mar-23	1,905.3	3,492.2
Jun-23	1,938.6	810.2
Sep-23	1,986.5	1,026.8
Dec-23	1,905.2	1,563.3
Mar-24	2,090.4	885.0
Jun-24	2,385.6	2,302.3

Renewable project investment, quarterly ($m)

["Date","Renewable Work Done","Renewable Commencements"]

[["Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24"],[[97.200000000000003],[165.19999999999999],[104.09999999999999],[112.7],[192.80000000000001],[456.19999999999999],[896.10000000000002],[1120.5],[1397.3],[1505.0999999999999],[1158.5],[1741.0999999999999],[1180.5999999999999],[1332],[1344.4000000000001],[1491.5999999999999],[1083.9000000000001],[1422.8],[1058.9000000000001],[775.20000000000005],[774.60000000000002],[1204.5999999999999],[1536.5],[1331.5999999999999],[1181.2],[1624.9000000000001],[1652.9000000000001],[1529.5],[1905.3],[1938.5999999999999],[1986.5],[1905.2],[2090.4000000000001],[2385.5999999999999]],[[149.90000000000001],[578.70000000000005],[177.69999999999999],[153.09999999999999],[407.10000000000002],[615.29999999999995],[1946.5999999999999],[923.60000000000002],[2689.4000000000001],[1808.8],[1537.5],[1750.3],[1804.2],[2905.8000000000002],[738],[339.39999999999998],[319.30000000000001],[477.80000000000001],[1443.9000000000001],[1193.3],[1569],[1511.9000000000001],[1208],[376.60000000000002],[1951.7],[526.39999999999998],[981.60000000000002],[3995],[3492.1999999999998],[810.20000000000005],[1026.8],[1563.3],[885],[2302.3000000000002]]]

[]

[{"value":"0","axis_id":"0","axis_title":"Quarter","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"($m)","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Value of work commenced, quarterly ($m)
Date	Other Electricity	Renewables
Mar-16	1,220.1	149.9
Jun-16	1,790.5	578.7
Sep-16	1,209.8	177.7
Dec-16	1,548.3	153.1
Mar-17	2,052.6	407.1
Jun-17	2,314.2	615.3
Sep-17	2,001.4	1,946.6
Dec-17	1,927.5	923.6
Mar-18	1,704.0	2,689.4
Jun-18	2,293.2	1,808.8
Sep-18	1,902.7	1,537.5
Dec-18	1,931.7	1,750.3
Mar-19	1,589.8	1,804.2
Jun-19	1,928.0	2,905.8
Sep-19	1,956.6	738.0
Dec-19	1,886.5	339.4
Mar-20	1,767.1	319.3
Jun-20	1,889.5	477.8
Sep-20	1,888.3	1,443.9
Dec-20	1,889.3	1,193.3
Mar-21	1,642.1	1,569.0
Jun-21	1,736.8	1,511.9
Sep-21	2,095.2	1,208.0
Dec-21	2,344.7	376.6
Mar-22	1,938.0	1,951.7
Jun-22	2,842.5	526.4
Sep-22	3,810.6	981.6
Dec-22	2,532.9	3,995.0
Mar-23	2,753.1	3,492.2
Jun-23	3,462.5	810.2
Sep-23	2,644	1,026.8
Dec-23	2,700.5	1,563.3
Mar-24	2,235.2	885.0
Jun-24	3,426.5	2,302.3

Value of work commenced, quarterly ($m)

["Date","Other Electricity","Renewables"]

[["Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24"],[[1220.0999999999999],[1790.5],[1209.8],[1548.3],[2052.5999999999999],[2314.1999999999998],[2001.4000000000001],[1927.5],[1704],[2293.1999999999998],[1902.7],[1931.7],[1589.8],[1928],[1956.5999999999999],[1886.5],[1767.0999999999999],[1889.5],[1888.3],[1889.3],[1642.0999999999999],[1736.8],[2095.1999999999998],[2344.6999999999998],[1938],[2842.5],[3810.5999999999999],[2532.9000000000001],[2753.0999999999999],[3462.5],[2644],[2700.5],[2235.1999999999998],[3426.5]],[[149.90000000000001],[578.70000000000005],[177.69999999999999],[153.09999999999999],[407.10000000000002],[615.29999999999995],[1946.5999999999999],[923.60000000000002],[2689.4000000000001],[1808.8],[1537.5],[1750.3],[1804.2],[2905.8000000000002],[738],[339.39999999999998],[319.30000000000001],[477.80000000000001],[1443.9000000000001],[1193.3],[1569],[1511.9000000000001],[1208],[376.60000000000002],[1951.7],[526.39999999999998],[981.60000000000002],[3995],[3492.1999999999998],[810.20000000000005],[1026.8],[1563.3],[885],[2302.3000000000002]]]

[]

[{"value":"0","axis_id":"0","axis_title":"Quarter","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"($m)","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Commencements of renewable energy projects peaked at $3,995.0m in December 2022, before dropping to $810.2m in June 2023.

The value of work done on renewable energy projects peaked at $2,385.6m in June 2024 after steadily rising from $774.6m in March 2021.

States

Renewable investment by state, work done ($m)
State	2016-17	2017-18	2018-19	2019-20	2020-21	2021-22	2022-23	2023-24
NSW	401.3	1,301.4	1,093.9	1,294.9	1,392.2	2,298.8	3,751.7	3,927.7
VIC	63.2	527.5	1,937.2	2,011.1	750.7	859.1	637.0	1,204.5
QLD	222.4	2,204.6	1,330.5	495.1	576.4	1,730.7	1,642.4	1,703.5
SA	74.6	526.3	420.0	115.2	443.4	348.6	359.5	606.1
WA	33.6	284.5	235.6	1,113.5	488.8	342.8	547.8	864.8
TAS	61.6	65.1	381.9	244.5	86.3	51.9	57.8	55.9
NT	9.2	9.7	13.1	68.5	75.6	42.2	30.1	5.3
AUS	865.9	4,919.0	5,412.3	5,342.7	3,813.3	5,674.1	7,026.4	8,367.7

New South Wales (a)

Quarter	Commencements	Work Done
Mar-16	77.6	28.3
Jun-16	346.5	45.6
Sep-16	40.7	29.0
Dec-16	3.6	66.3
Mar-17	315.0	128.8
Jun-17	123.5	177.2
Sep-17	352.4	243.9
Dec-17	337.7	437.1
Mar-18	10.2	338.2
Jun-18	196.4	282.2
Sep-18	319.6	140.7
Dec-18	644.1	237.9
Mar-19	21.4	282.1
Jun-19	2,781.1	433.2
Sep-19	36.7	301.7
Dec-19	215.8	400.5
Mar-20	144.6	209.1
Jun-20	28.3	383.6
Sep-20	438.4	365.3
Dec-20	210.4	388.6
Mar-21	7.0	272.7
Jun-21	599.5	365.7
Sep-21	443.5	381.1
Dec-21	284.8	490.4
Mar-22	331.8	550.2
Jun-22	282.5	877.2
Sep-22	629.9	791.8
Dec-22	1,464.1	806.9
Mar-23	450.3	998.7
Jun-23	64.5	1,154.3
Sep-23	315.2	1,107.4
Dec-23	384.1	810.5
Mar-24	544.6	938.1
Jun-24	467.8	1,071.7

Victoria

Quarter	Commencements	Work Done
Mar-16	4.1	1.9
Jun-16	88.4	15.4
Sep-16	2.7	16.6
Dec-16	72.2	8.3
Mar-17	9.3	8.7
Jun-17	19.8	29.6
Sep-17	258.5	65.8
Dec-17	66.0	24.0
Mar-18	1,552.0	229.1
Jun-18	1,030.5	208.6
Sep-18	426.9	308.3
Dec-18	993.5	595.2
Mar-19	953.3	527.7
Jun-19	21.6	506.1
Sep-19	28.6	447.7
Dec-19	50.6	580.2
Mar-20	113.3	480.9
Jun-20	6.0	502.3
Sep-20	417.6	239.4
Dec-20	621.9	154.2
Mar-21	4.7	163
Jun-21	216.3	194.1
Sep-21	12.6	508.3
Dec-21	7.1	205.9
Mar-22	108.3	97.5
Jun-22	1.7	47.4
Sep-22	95.5	83.3
Dec-22	210.4	58.1
Mar-23	1,905.3	298
Jun-23	136.9	197.7
Sep-23	77.0	248.1
Dec-23	33.9	292.5
Mar-24	214	333.2
Jun-24	710.5	330.6

Queensland

Quarter	Commencements	Work Done
Mar-16	3.4	5.2
Jun-16	30.9	12.4
Sep-16	42.0	13.4
Dec-16	35.5	19.4
Mar-17	21.6	11.1
Jun-17	444.4	178.5
Sep-17	927.3	500.8
Dec-17	278.8	447.5
Mar-18	973.2	521.5
Jun-18	270.1	734.8
Sep-18	171.3	448.7
Dec-18	24.7	590.1
Mar-19	71.4	136.6
Jun-19	13.5	155.1
Sep-19	23.9	227.9
Dec-19	30.3	125.5
Mar-20	12.4	59.0
Jun-20	186.8	82.7
Sep-20	15.9	125.6
Dec-20	26.0	92.5
Mar-21	838.4	130.1
Jun-21	633.5	228.2
Sep-21	676.4	447.1
Dec-21	21.6	489.0
Mar-22	892.7	316.1
Jun-22	83.7	478.5
Sep-22	86.6	557.7
Dec-22	2,107.4	428.7
Mar-23	1,087.0	320.3
Jun-23	430.6	335.8
Sep-23	116.8	376.7
Dec-23	490.2	467.9
Mar-24	34.5	416.8
Jun-24	491.2	442.1

South Australia

Quarter	Commencements	Work Done
Mar-16	21.5	33.8
Jun-16	83.8	58.5
Sep-16	55.3	30.3
Dec-16	37.3	1.3
Mar-17	18.8	22.8
Jun-17	1.9	20.3
Sep-17	306.4	11.5
Dec-17	178.5	150.2
Mar-18	2.0	165.2
Jun-18	220.9	199.4
Sep-18	0.9	116.6
Dec-18	33.6	159.6
Mar-19	0.5	74.8
Jun-19	0.3	69.0
Sep-19	15.4	28.2
Dec-19	38.8	31.1
Mar-20	12.9	23.0
Jun-20	10.4	32.8
Sep-20	6.2	26.7
Dec-20	316.3	22.8
Mar-21	456.5	139.6
Jun-21	1.3	254.4
Sep-21	10.0	114.7
Dec-21	7.4	54.7
Mar-22	450.7	90.4
Jun-22	32.7	88.8
Sep-22	21.7	95.4
Dec-22	80.6	91.5
Mar-23	20.1	71.5
Jun-23	150.4	101.0
Sep-23	40.5	141.9
Dec-23	620.4	158.5
Mar-24	33.4	134.0
Jun-24	0.0	171.7

Western Australia

Quarter	Commencements	Work Done
Mar-16	12.0	18.5
Jun-16	0.0	2.7
Sep-16	7.2	5.0
Dec-16	2.5	4.0
Mar-17	37.0	3.8
Jun-17	19.7	20.8
Sep-17	60.3	61.6
Dec-17	49.1	49.1
Mar-18	124.4	124.4
Jun-18	69.0	49.4
Sep-18	51.1	79.8
Dec-18	51.6	55.4
Mar-19	746.5	45.1
Jun-19	84.6	55.4
Sep-19	562.4	184.2
Dec-19	2.1	302.0
Mar-20	2.3	268.5
Jun-20	189.3	358.7
Sep-20	505.0	259.6
Dec-20	8.9	66.1
Mar-21	56.5	34.9
Jun-21	36.4	128.2
Sep-21	25.5	66.9
Dec-21	48.2	71.5
Mar-22	157.7	105.8
Jun-22	73.3	98.6
Sep-22	125.2	98.7
Dec-22	94.9	127.6
Mar-23	13	205.6
Jun-23	8.3	116
Sep-23	460.5	100.2
Dec-23	11.5	159.2
Mar-24	20.7	258.1
Jun-24	615.6	347.3

Tasmania

Quarter	Commencements	Work Done
Mar-16	31.4	9.6
Jun-16	19.2	29.9
Sep-16	29.8	5.9
Dec-16	1.9	10.6
Mar-17	5.5	16.4
Jun-17	6.1	28.8
Sep-17	41.7	12.3
Dec-17	13.1	12.3
Mar-18	5.8	17.3
Jun-18	21.8	23.3
Sep-18	567.8	57.9
Dec-18	2.8	98.6
Mar-19	11.1	112.5
Jun-19	4.7	113.0
Sep-19	38.6	137.5
Dec-19	1.6	42.6
Mar-20	17.0	29.7
Jun-20	19.0	34.7
Sep-20	60.8	18.6
Dec-20	9.5	29.4
Mar-21	35.2	13.8
Jun-21	3.9	24.6
Sep-21	40.1	13.0
Dec-21	7.4	11.6
Mar-22	9.9	12.1
Jun-22	38.1	15.2
Sep-22	21.6	10.2
Dec-22	35.9	9.4
Mar-23	16.1	8.1
Jun-23	18.9	30.1
Sep-23	14.6	8.8
Dec-23	13.0	15.3
Mar-24	37.6	10.0
Jun-24	17.3	21.9

Method

The primary source of the renewable investment data is the Engineering Construction Survey. The survey collects the value of commencements and work done on a range of work types including 'Electricity generation, transmission and distribution'. The data item includes:

New power stations, hydro-electric generating plants, wind farms, utility scale solar farms and pumped hydro generation
Associated work to support generation assets including substations, battery storage and transmission and distribution line construction and upgrades
Major repair and replacement of existing electricity assets
Excludes roof top photovoltaic solar systems

The Engineering Construction Survey does not ask for data at a project level, as such the identification of renewable projects is reliant on business providing additional information. Where this information is not readily available, project identification has been carried out using multiple external sources to identify projects and the businesses involved in their construction. This has allowed the projects to be tracked through the life of construction.

While every effort has been made to identify projects and split renewable/other electricity asset investment, there are cases where this is not possible. This has likely resulted in a level of under coverage of renewable investment.

Other limitations to the data include:

units undertaking renewable construction and not selected in the survey, selected but not responding or reporting incorrectly
data being reported in commodities other than electricity i.e. combined in a mining commodity; reported under site preparation for turbine foundations
renewable and other electricity investment combined in reported data where a business is undertaking work in both spaces
small scale utility renewable projects not identified for tracking

As a result the data presented should not be taken as a comprehensive account of all renewable investment.

The value of electricity commencements and work done includes generation, transmission and distribution data so the information presented should not be read as an analysis of new generation projects only. While the renewable data is primarily generation and storage investment, data pertaining to other electricity assets includes non-generation investment such as maintaining and expanding existing transmission networks, connecting new renewable projects to existing networks and non-renewable generation assets i.e. coal and gas power plants.

Electricity investment data has been split into renewable and other electricity investment based on the type of construction.

Construction type	Investment
Utility Solar	Renewable
Wind	Renewable
Hydro Electric	Renewable
Pumped Hydro	Renewable
Biomass	Renewable
Dispatchable Battery Storage	Renewable
Transmission and distribution lines	Other Electricity
Power stations	Other Electricity
Transformers	Other Electricity
Substations	Other Electricity
Coal (Brown and Black)	Other Electricity
Gas	Other Electricity
Diesel	Other Electricity
Unknown	Other Electricity

Glossary

Commencements (value of work commenced)

A project is regarded as having commenced when the site works begin. The commencement value reported is based on the expected project cost upon commencement and is not revised to reflect changes in the project value as the project progresses.

Work done (value of work done)

The value of work done is based on the actual value of work carried out in the quarter and includes Wages, salaries and supplements to on and off-site employees; Plant hire (internal and external); Materials and all other expenses; Head office overheads with the relevant project. Values are reported exclusive of GST.

Roof photovoltaic systems

Roof photovoltaic systems include residential and commercial rooftop arrays that generate power for users.

Data downloads

Value of electricity investment; State and Australia

Data files

Download xlsx [42.27 KB]

APA

Citation

Value of renewable energy construction, June 2024

APA

Citation

Introduction

Overview

Source

Electricity generation, transmission and distribution investment

States

New South Wales (a)

Victoria

Queensland

South Australia

Western Australia

Tasmania

Method

Glossary

Data downloads

Value of electricity investment; State and Australia

Provide feedback