The Queensland Renewable Energy Council’s (QREC) latest member survey has found local policy, approvals and investment uncertainty are weighing more heavily on Queensland’s renewable energy sector than global volatility.
QREC Chief Executive Officer Katie-Anne Mulder said the fifth QREC Executive Insights Survey showed Queensland remained well placed to benefit from renewable energy and storage investment, but required clearer, more stable and better coordinated policy settings at State and Federal levels.
“Our survey shows industry leaders are more concerned about changing domestic policy settings, approvals complexity and the practical difficulty of progressing projects through development, financing, construction and connection,” Ms Mulder said.
“Community support and acceptance remains critical and is ranked as the number one opportunity, particularly in enabling projects to deliver benefits for local communities.”
QREC members identified a range of challenges affecting project timelines and investment decision, including policy uncertainty, reduced investor confidence, approvals delays, Social Impact Assessment and Community Benefit Agreement requirements, Environment Protection and Biodiversity Conservation Act processes, ministerial call-in powers and uncertainty around coal-fired power station exit timelines.
Ms Mulder said the renewable energy sector has a lot to be proud of its role in tackling cost of living concerns for Queenslanders.
“Renewables and battery storage projects already in place or under development were cited in recent electricity price reduction decisions by the Australian Energy Regulator and the Queensland Competition Authority. These decisions should deliver significant savings for Queensland homes and businesses next financial year,” Ms Mulder said.
“What the renewables industry needs now is certainty, coordination and delivery. When we deliver, we deliver for all Queenslanders.”
The survey highlighted significant opportunities for Queensland, particularly through strengthening community support, investing in transmission and enabling infrastructure, streamlining approvals, and improving coordination through the Queensland Investment Corporation (QIC) Investor Gateway.
“The development of supporting transmission and enabling infrastructure is critical to unlocking further investment,” Ms Mulder said.
“This makes the State Budget an important test of whether Queensland will continue building the generation, storage and transmission infrastructure needed to put on-going downward pressure on electricity prices.”
The survey was conducted prior to the Queensland Government’s pre-State Budget announcement of an additional $420 million in 2026–27 for the CopperString transmission project. The State Budget will be delivered by Treasurer and Energy Minister David Janetzki on 23 June.
“QREC and our members look forward to a Budget that delivers for the renewables sector and supports further investment in Energy Roadmap initiatives,” she said.