Australia’s renewable energy sector is on an upswing. Given the fast pace at which this sector is growing, it is expected to surpass the government’s 2020 target of 20% contribution to the total energy mix.

1. Australia’s Renewable
Energy Sector
Better Days Ahead!
Driven by favorable government policies and increased investment
in solar and wind energy projects, Australia’s renewable energy
sector is on an upswing.
Australia’s Renewable Energy Generation in Gigawatt Hours (GWh) and
Share (%) in the Overall Energy Sector
9.6%
29,302
13.14%
29,678
14.76%
34,750
2011 2012 2013 2020F
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Percentage figure above denotes the renewable energy % share of total energy generation.
Renewable energy’s
share in Australia’s
total electricity generation
in 2013 was sucient
to power about
5 million homes.
Australia's Renewable
Energy Target (RET) 2010 is
a Federal Government
policy designed to
ensure that at least 20%of
Australia's electricity
generation is contributed
through renewable sources
by 2020.
Individual Share of Renewable Energy Sources to the Total Energy
Generated in 2013
Wind
3.99%
Fossil 8.12%
Fuel
Other
0.01%
20%
45,000
SolarPV
1.62%
Bioenergy
1.03%
Hydro
(200,684 GW)
85.24%
Source: Clean Energy Australia Report, 2013; Australian Government - Renewable Energy Target Report
Aranca’s Views
Compiled by: Radheshyam Moholkar
CAGR (2011–20): 4.9%
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This sector witnessed
investments worth
USD5.2 billion in 2013.
...........................................................................
Hydro Tasmania’s network of power plants and the Snowy
Hydro Scheme in New South Wales largely contributed to
hydro power generation in 2013.
The 18 new renewable projects (including wind, solar,
bio-energy, and hydro power) launched in Australia in 2013,
have the potential to generate a total capacity of 705
megawatts (MW) of energy.
Australia’s government has expressed commitment towards increasing renewable energy
consumption in the country. Currently, hydro energy dominates the clean energy sector.
In future, the landscape is likely to change with the expansion of wind and solar energy projects.
Rising investment and incentives for small-scale renewable energy projects would drive the
adoption of wind and solar energy in several states. The rapidly growing renewable energy
sector in Australia is expected to surpass the government’s 2020 target of 20% contribution to
the total energy mix.