Australia’s Reserve Bank fuels call for post-pandemic renewables push
Exclusive: Government urged to make clean energy part of Covid-19 recovery, as RBA finds 50% slump in projects last year
- Sign up for Guardian Australia’s daily coronavirus email
- Download the free Guardian app to get the most important news notifications
- Coronavirus Australia maps and cases: live numbers and statistics
New research by the Reserve Bank shows renewable energy investment in Australia fell sharply last year after becoming a major sector in the national economy. It is fuelling calls for governments to help clear the way for the industry as part of a post-pandemic recovery.
Renewable energy surged to make up nearly 5% of non-mining business investment across Australia in 2018, according to the research note by RBA economists, but the number of large-scale clean projects reaching the point of commencement slumped about 50% last year.