Australia’s strong economy and proximity to the fast-developing Asian markets together with the Australian Government’s measures to address climate change mean Australia’s clean technology industries are poised for growth.
Abundant and diverse renewable energy resources, supported by world-class research and well-regulated energy markets, make Australia an attractive destination for international investment in clean energy.
- The large Australian landmass is particularly suitable for clean energy infrastructure
- 90 per cent of Australia absorbs over 1,950KWh of sunlight per metre per year
- Strong westerly winds, up to 10 metres per second, buffet southern Australia
- The north west of Australia experiences a tidal range of up to 10m, one of the largest in the world
- Australia’s wave energy capacity is estimated to be 170,000MW
- Australia has expertise to assess the technology and economic feasibility of developing large scale biomass resources to support future bio-commodities industries, such as alternative transport fuels
- Australia has very significant non-volcanic geothermal resources with temperatures of around 280ºC at up to 5km underground
- Australia has world-class research and development (R&D) expertise and advanced science and technology for biological, chemical and mechanical testing
It is estimated the Australian off-grid energy market potential consists of approximately 213MW of renewable project opportunities (around A$600 million) in the short to medium term. In the longer term, this could grow to over A$2 billion of investment, an additional 854MW or a total of over 1GW of market potential.
For further information, download Australian Remote Renewables: Opportunities for Investment (PDF, 684KB).
Energy efficiency solutions are being adopted across Australia due to rising energy costs and the Government’s commitment to a clean energy future.
Australia offers investors energy efficiency opportunities in a growth economy with:
- One of the worlds’ most urbanised populations
- Government support, at all levels, for new technologies and business models in energy efficiency solutions
- A commitment by local property investors to outstanding sustainability performance
- Energy efficiency rated buildings which attract a ‘green premium’, enjoying increased asset values, higher rents and higher tenant retention
- Distributed generation on the rise: over a million households have installed rooftop solar panels and community groups, commercial and industrial players are looking to renewable and hybrid generation solutions
- Australia hosts one of the world’s largest interconnected grids - the National Energy Market – as well as a number of smaller grids and regional or remote ‘off-grid’ sites
The Australian Government’s support
The Australian Government has implemented a comprehensive plan to move to a clean energy future. The Government’s plan includes the Renewable Energy Target (RET) of 20 per cent renewable energy by 2020, as well as, encouraging energy efficiency and promoting innovation and investment in renewable energy, with a focus on remote renewables.
These initiatives are supported by the Australian Renewable Energy Agency (ARENA) which is investing A$3.2 billion in Government support for R&D of renewable energy.
Further information about Australia’s Clean Energy and Environment capability is available, including Austrade’s Clean Energy and Environment Export Directory.
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