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Renewable Energy in Australia
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Report 109 Pages | |||||||||||
| Inhalt der Studie: |
Introduction
Currently, there are roughly as many drivers to renewable energy development in Australia as there are barriers. Australia's renewable energy market offers great opportunities due to i.....
Introduction Currently, there are roughly as many drivers to renewable energy development in Australia as there are barriers. Australia's renewable energy market offers great opportunities due to its tremendous natural resource availability. For now, however, Australia will continue to be largely reliant upon governmental incentives and regulatory frameworks to increase its renewable energy development. Features and benefits * Analysis of installed capacities and generation output for the main sources of renewable energies across Australia, at a national level and by state.* A detailed identification of the key drivers and barriers shaping these markets, and the likely growth potential of each renewable technology.* An examination of new technology introductions and innovations, and future areas of opportunity for manufacturers and power providers. Highlights Australia has weathered the global recession well and its economic indicators are set for growth. Aging energy infrastructure and assets, however, will need to be replaced and voters' climate change concerns taken into account.Australia's renewable energy development has been relatively sluggish, but recent federal and state level incentives, particularly the Renewable Energy Target, could give developers a great boost. Especially wind and solar power sectors are forecast to grow strongly in the coming years.Despite governmental funding, Datamonitor estimates that around A$45bn of private investment will be required to develop the 20GW of renewable energy capacity that is currently under development. In order to meet the Large-scale Renewable Energy Target (LRET) requirements by 2020, around 14GW of new renewable energy capacity need to be installed. Your key questions answered * Assess the state and future outlook for renewable energies in Australia* Determine how different elements of Australian legislation and wider market trends are influencing the development of the main renewable energy market* Understand how renewable energy strategies are likely to evolve and how your company should interact with Australia’s renewable energy market [Studien Infos ausblenden] |
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Executive Summary Australia's economic situation is set for growth, but will its electricity market cope? Australians are worried about the environment and climate change Australian renewable policies are characterized by patchwork approaches and uncertainty Renewable energy capacities have grown since the beginning of the millennium Renewable energy capacity could grow threefold should project proposals become reality Australia is home to abundant sources of renewable energy Renewable energy investment in Australia is nowhere near the levels required Conclusion OVERVIEW Catalyst Summary Methodology RENEWABLE ENERGY IN AUSTRALIA Macroeconomic background Australia largely managed to avoid the recent global downturn and its economic outlook seems positive Electricity market Thermal fuels still comprise almost 80% of all Australian generation capacity Electricity generation has steadily risen in the past but has stabilized in recent years Energy intensity has decreased throughout the years, but emission levels have been constantly on the rise Steam turbines dominate thermal installed generation capacity, while gas turbines are much rarer Two new energy institutions have initiated attempts to improve market transparency and efficiency Wholesale electricity prices have been rising and falling roughly in line with oil price developments Average annual retail prices across different states have fluctuated strongly in recent years Australia's energy market faces several issues and concerns PUBLIC OPINION Environmental concerns 24% of Australians rank air pollution as their number one environmental issue, followed by climate change More than 80% of Australians support greater development of non-carbon based sources of energy Government role Australians are unsure about the role of the government in combating climate change AUSTRALIAN RENEWABLE ENERGY POLITICS Overview The Carbon Pollution Reduction Scheme was an unsuccessful first attempt to lower Australia’s emission levels Renewable energy targets The development of renewable energy will form a key part of the new government's energy strategy Other federal policies Federal renewable energy development programs State and territory renewable energy policies Overview Drivers of renewable energy policy Barriers to renewable energy policy RENEWABLE ENERGIES IN OPERATION Existing renewable energy capacity Renewable energy production facilities in Australia reflect the climatic conditions of different regions Existing renewable energy generation Despite representing 16.5% of installed capacity, hydropower only supplied 5.2% of all generation in 2008 In total, renewable energies generated only 7% of Australia’s total net electricity supply in 2008 RENEWABLE ENERGIES UNDER DEVELOPMENT Renewable energy capacity under construction Victoria leads the way in terms of renewable energy capacity currently under construction Renewable energy capacity under development Victoria has the greatest amount of proposed renewable energy capacity Wind energy continues to dominate proposed renewable energy capacities across Australian states There are proposals to install almost 15GW of new wind energy capacity across Australia The average size of Australia's proposed solar energy plants is 27MW Wood waste represents the biggest fuel source for proposed biomass energy capacities Australian renewable energy capacity could increase roughly threefold in capacity over the coming years Victoria, South Australia and Western Australia are growing their renewable energy capacities significantly Future energy generation Natural gas, not renewable energy, is set to replace the shrinking share of coal-fired generation Wind power output will overtake hydro as the number one source of renewable power New South Wales should witness the greatest absolute growth in terms of electricity generation by 2030 RENEWABLE ENERGIES LANDSCAPE Hydro energy overview and resource potential Hydropower is a clean and renewable source of energy, with competitive annual levelized costs Australian hydropower is predominantly generated in the southeastern states Water availability is a major constraint on future growth in hydroelectricity generation in Australia The recent drought had a major impact on hydropower consumption levels in Australia The prospects for new large-scale hydroelectric projects in Australia are limited Wind energy overview and resource potential Australia has some of the world’s best wind resources along its southern coastlines Wind power installation has grown strongly and will play an important role in Australia's future energy mix Barriers to greater wind energy deployment are technical, environmental and social in nature Solar energy overview and resource potential The growth of solar energy in Australia depends on several key factors Biomass energy overview and resource potential Biomass as a means of power generation is underexploited, but offers good growth prospects Geothermal energy overview and resource potential The share of geothermal power production is likely to increase once its commercial viability is proven There are four types of geothermal power plants currently in operation for commercial use Various technologies have emerged to adapt geothermal energy plants to specific geological conditions Australia has considerable hot rock and lower temperature geothermal energy potential Geothermal projects need large capital investment and improved economic viability Ocean energy overview and resource potential The ocean energy market is eager to replicate the success of the global wind power industry RENEWABLE ENERGY INVESTMENT Overview A major step-up in investment is needed to achieve Australia's 20% renewable energy target Hydropower costs Costs for new hydropower plants are offset by long life cycles and low operational costs Wind power costs Wind energy offers the most promising investment opportunity of all renewable energy sources Solar power costs Asset costs make up the bulk of the annual levelized development costs of solar power Biomass power costs Biomass power is a cost-attractive option for co-firing Geothermal power costs Costs of geothermal power are largely incurred during the drilling phase Ocean power costs Ocean energy power is unlikely to become cost competitive with other renewables in the medium term Future investment requirements About A$45bn of investment are required to develop the currently proposed 20GW of renewable capacity 14GW capacity will be required to meet the LRET target of 41,000GWh of additional renewable output Power generation forecast Growing energy demand will affect the investment climate for renewable energies Power prices forecast Australians have become accustomed to low electricity prices Renewable power project developers Renewable energy project development is driven by a number of public and private organizations Wind and hydro are the sectors with the largest number of project developers Renewable technology investments Utility renewable energy investment profiles Other utilities and equipment suppliers CONCLUSION Drivers and barriers Currently, there are probably as many drivers as barriers to renewable energy development in Australia Outlook Australia will continue to be reliant on fossil fuels in the near future APPENDIX Definitions ACT Biofuel Biomass Cap-and-trade Capex Carbon dioxide (CO2) Carbon dioxide equivalent (CO2e) Carbon footprint Carbon offset Carbon trading Clean Energy Initiative (CEI) Clean Energy Innovation Centre – Enterprise Connect network Clean Energy Trade and Investment Strategy Cleantech Climate change Cogeneration Compound annual growth rate (CAGR) Carbon Pollution Reduction Scheme (CPRS) Emissions trading Geothermal drilling program Geothermal energy Greenhouse gases (GHGs) Hydropower energy (hydro) Innovation investment fund Microgeneration Mandatory Renewable Energy Target (MRET) Municipal solid waste (MSW) NSW NT Ocean energy Ocean thermal energy conversion (OTEC) Photovoltaic (PV) and solar thermal energy Renewable energy Renewable Energy Demonstration Program Renewable Energy Future Fund Renewable Energy Target (RET) Resource Exploration Rebate (RER) Retooling for Climate Change Program QLD SA Second Generation Biofuels Research and Development Program Solar Flagships Program and the Australian Solar Institute TAS Tidal energy United Nations Framework Convention on Climate Change (UNFCCC) Venture capital investment (VC) VIC WA Wave energy Sources Ask the analyst Datamonitor consulting Disclaimer [Inhaltsverzeichnis ausblenden] |
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