CEC chief executive Kane Thornton said more than 2250 MW of new large-scale renewable energy would be under construction in 2017, the most since the Snowy Hydro Scheme more than 50 years ago – one of the most iconic nation-building projects in Australian history.

“We are set for a huge 2017, with more than 20 major projects either actively under construction or which have secured funding and will go to construction this year,” he said.

“This investment is occurring due to the extraordinary cost reductions achieved in renewable energy, underpinned by the bipartisan political support for the 2020 Renewable Energy Target (RET), the Australian Renewable Energy Agency, the Clean Energy Finance Corporation and various initiatives of state and territory governments.

“Given the nature of renewable energy projects, regional parts of the country will benefit from many of these job opportunities, while the projects will provide flow-on benefits to the many different businesses involved. This new wind and solar power will help our system cope during periods where everyone is using lots of electricity. As we saw in NSW during the heatwaves a few days ago, every generator counts when the heat is on,” he said.

The figures show Queensland and NSW will benefit strongly from wind and large-scale solar, with projects also firing up in SA and Victoria. State and territory governments have been instrumental in bringing much of this investment forward and restoring confidence to the sector.

Mr Thornton said investors are flocking back to the sector after several years of destabilisation under the Abbott government. “Investment confidence has rebounded and our economy is set to reap the benefits through a massive increase in activity between now and the end of the decade.”