Renewable energy construction in Australia has tripled in recent years and is forecast to increase to $23 billion in 2029, according to a new report.
Construction of renewable energy projects has increased three-fold in the last four years and is expected to reach peak levels in just over three years’ time.
The recent Renewable Energy Construction Outlook–Australia report by Australian research and forecasting firm, Macromonitor, which specialises in construction, provides detailed forecasts of renewables energy construction spending on wind, solar, battery, hydro, and biomass projects.
According to Energy Source Distribution News, the estimated value of work done in the renewable energy sector surged from $4.4 billion in 2020-21 to $13.2 billion in 2024-25.
From 2025-26 to 2029-30 it is projected that Australia will add an average of 8.9GW of new renewable capacity each year. This is triple the 2.7GW annual average over the last half-decade.
Economist and lead report author, Dr Abdul Hannan, said energy transition in Australia has moved from planning to the delivery phase. Activity has already tripled with over 10GW of capacity awarded in late 2025 alone through the government’s Capacity Investment Scheme, making the pipeline of work in the next five years substantial.
Image: Neoen’s construction work at the Capital Battery in the ACT. Credit: Neoen.
About the author
Desi Corbett
Desi is the Editor of Concrete in Australia, at the helm since December 2013, and our weekly news writer since 2016. Focused on concrete and construction for more than 11 years, her expertise in this field forms part of a journalism career spanning three decades. To get in touch please email desi@corbettcomms.com