The Australian federal government recently announced a significant expansion of its Capacity Investment Scheme (CIS), adding 40 gigawatts (GW) of new solar, wind, and energy storage capacity to drive its ambitious goal of achieving 82% renewable energy by 2030.
At the Investor Group on Climate Change (IGCC) annual summit, Federal Energy Minister Chris Bowen revealed that the initial CIS target included 23GW of solar and wind power, along with 9GW of dispatchable energy (including battery storage). The expanded plan will now add an extra 3GW of solar and wind (enough to power over 1 million households) and 5GW of storage (meeting peak demand for 4.6 million homes). This raises the total target from 32GW to 40GW—a 25% increase.
The move underscores Australia’s commitment to accelerating its clean energy transition while ensuring grid reliability and affordability for consumers.
