Australia’s transition to renewable energy has gained fresh momentum, with new projections indicating that the country’s National Electricity Market (NEM) will expand its capacity for solar, wind, and energy storage by over 150GW in the next two decades.
According to Cornwall Insight’s latest NEM Benchmark Power Curve, renewable capacity is expected to soar from 52GW in 2025 to 208GW by 2043, marking an impressive 300% increase.
This growth is projected to be led by solar energy, including substantial contributions from rooftop photovoltaic (PV) installations, which alone could add 78GW over the next twenty years.
Wind and energy storage capacities are also anticipated to expand significantly, with forecasts estimating an increase of 39GW and 40GW respectively.
The move towards renewables is strongly backed by federal and state policies designed to create an investor-friendly environment. Initiatives such as the Capacity Investment Scheme and state-led renewable energy auctions are expected to play key roles in accelerating the shift to renewables.
