Australia could miss clean energy target as solar and wind investment slumps, investors warn

Renewable energy investors are warning that Australia may miss its clean energy targets due to a significant slump in solar and wind investment. Investment commitments on large-scale renewable energy farms are at their lowest level in nearly a decade, driven by underlying structural issues. According to Clean Energy Regulator data, the expected industry-scale renewable energy capacity reaching a final investment decision this year is 2.5GW, a decrease from 4GW the previous year. The 12-month average for investment commitments on new developments is at its lowest since early 2017. Experts caution that the current pipeline of potential projects may not deliver the required energy capacity without increased investment.