Reportlinker Releases Report on Australian Renewable Energy Market

Reportlinker.com has released a new market report titled ‘Renewable Energy in Australia’. According to the report, Australia has huge potential for renewable energy market, as abundant natural resources are available in the region. However, the country’s renewable energy market growth will depend on its governmental regulatory frameworks and subsidies.

The report is analyzing the installed capacities and production capacity for the major renewable energy sources throughout Australia. The report discusses the major drivers and hurdles of the market and the estimated growth of each renewable energy sector. The report describes new renewable energy technologies and the upcoming opportunistic areas for power suppliers and producers.

As per the report, Australia's recent initiative, the Renewable Energy Target could provide an encouragement to the renewable energy developers. Particularly, solar and wind energy segments would see a robust growth in the near future. Apart from government investment, private funding worth about A$45 billion will be needed to construct the 20 GW of renewable power capacity that is being developed. About 14 GW of new renewable power capacity is required to be developed to satisfy the Large-scale Renewable Energy Target (LRET) needs of  2020.