Greening the Grid: the next wave of electricity construction in Australia

Access the research report to learn more about the key points outlined below:

• Electricity construction activity continues to boom as Australia works towards its target of generating 82% of electricity from renewable sources by 2030. The value of work done reached a record high of $19.2bn over FY24, 59.4% higher than the sector’s trough in FY21.

• The boom has been driven by Federal Government policy addressing the transmission capacity limitations that plagued the sector in the years leading up to the Covid pandemic. The development of major interconnectors between state energy grids and the $20bn ‘Rewiring the Nation’ plan are set to unlock Renewable Energy Zones (REZ), which will spur further investment in renewable generation.

• Construction of wind farms is set to grow rapidly over the next decade as the widespread adoption of solar has begun to saturate the market – we expect wind construction to grow by an average of 12.6% y/y from FY25 to FY30.