Electricity projects in Pipeline in October
Australia has 163 electricity projects currently in the investment pipeline, which will create an additional 42,947 megawatts of capacity for future electricity suppliers.
Renewable energy sources make up just under half (48 per cent) of the planned projects, according to the Bureau of Resources and Energy Economics (BREE).
There are four stages to the investment pipeline that projects go through in order to get the correct level of consideration.
Publicly announced stage
This is the first project stage, after concept and pre-development actions and before a feasibility study has gone ahead to make sure it is commercially viable.
Proposed developments in this stage must have certain aspects announced to the public for consideration, such as the preliminary schedule information, planned capacity and cost.
Currently, there are 37 projects in this stage of development, according to BREE. These investments have a total capacity of 6,246 megawatts and a investment value of $7.9 billion.
Of these projects, 28 are renewable energy sources which will provide 60 per cent of proposed capacity in this stage. Almost half of the total capacity will come from wind power, with ocean power providing 6 per cent and solar power around 5 per cent of the quota.
After the completion of feasibility studies, projects enter into the next stage where further studies will be enacted to finalise the scope, engineering designs and examine the environmental impacts.
There are 100 projects at this stage that could produce the equivalent of 60 per cent of Australia's total generating capacity, and with expenditure of around $42.8 billion.
At this stage, there are 71 renewable energy projects - 55 per cent of these are wind powered, 3 are geothermal and ten are solar powered. There is also a hydroelectric plant in the works.
Not all projects reach this stage, but those that do would have received a positive final investment decision (FID) and a power purchase agreement.
The country has committed investment in projects that will add 2,689 megawatts to the existing framework, with a value of $5.6 million.
Power supplied by these assets will be equivalent to 5 per cent of current capacity.
The majority - around 78 per cent - of committed investment is in renewable energy sources, which Executive Director of BREE said is a result of supportive renewable energy policies and the Renewable Energy Target.
Developments that have been built are kept on record for ten years by BREE.
New developments that provide power to the grid might help decrease electricity prices as there will be a greater supply of energy available.
Posted by Charlie Moore.