In 2022, soaring investment in renewables projects and infrastructure (US$33bn) and M&A (US$17.4bn) reached record levels, while construction commenced on more than 5,000MW of new large-scale wind and solar farms. From this highpoint, where does the Australian renewables sector go next for the rest of 2023 and beyond?

Key highlights include:

• Nearly three-quarters of respondents (74%) say they will increase investments in Australia through 2023 (a sharp uptick from 65% in 2021).
• Investors from the Asia-Pacific region will lead inbound investment: 58% expect a moderate increase while one-third predict a significant increase.
• New South Wales (60%) scored highest among Australian states and territories as providing an attractive opportunity for future investments.
• 97% of respondents point to PV solar as offering the most opportunities, while 83% see biomass, biogas, and waste-to-energy projects as having the most opportunities - a noticeable jump from 59% in 2021.
• 46% of respondents say hydrogen will catch up with expectations and/or reach industry maturity within the next 2 years.
• Australia’s key strengths:

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