Renewable Energy in Australia Industry Market Research Report Now Updated by IBISWorld
Energy production faces unprecedented uncertainty. Increased awareness about the effects of climate change and dependence on fossil fuels has prompted policymakers and scientists to rethink their strategies. The Renewable Energy industry in Australia has both benefited from and been a victim of these changing tides, as increased investment and support has been offset by delayed implementation and political populism. For these reasons, industry research firm IBISWorld has updated its report on the Renewable Energy industry in Australia.
Melbourne, Australia (PRWEB) May 14, 2012
Energy production faces unprecedented uncertainty. Increased awareness about the effects of climate change and dependence on fossil fuels has prompted policymakers and scientists to rethink their strategies. The Renewable Energy industry in Australia has both benefited from and been a victim of these changing tides, as increased investment and support has been offset by delayed implementation and political populism. According to IBISWorld industry analyst Naren Sivasailam, “The industry has benefited from significant assistance in the form of grants and concessions, but remains at the mercy of its infancy and expensive cost structure”. In the five years to 2011-12, industry revenue is estimated to grow at an annualised 10.8% to total $1.56 billion. Revenue in 2011-12 is expected to post an increase of 18% from the previous year.
The Renewable Energy industry in Australia has a medium level of market share concentration, although there are significant segmental differences. For example, the hydropower segment is highly concentrated, while the wind power segment is more fragmented, with a number of players operating wind farms with medium capacities. Sivasailam adds, “the solar energy is more fragmented still, with no single player accounting for a substantial portion of the market”. Snowy Hydro Limited and Hydro-Electric Corporation are the two major companies in the industry.
The prospects of the Renewable Energy industry are inextricably tied to the level of government support and the willingness of end users to wear higher costs. Initiatives such as interest-free Green Loans and the Renewable Energy Development Fund aid investment in technology that will eventually make clean energy affordable. However, support from consumers and industry is equally important in setting a precedent for change. The introduction of the Carbon Pollution Reduction Scheme, an emissions trading scheme that employs a cap or an upper limit on the level of carbon pollution produced in future years will affect future performance. The next five years will be critical in determining whether Australia’s abundant natural resources can be harnessed and set a world example for a decarbonised future.
For more information, visit IBISWorld´s Renewable Energy report in Australia industry page.
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IBISWorld industry Report Key Topics
This industry includes establishments that generate energy from renewable natural resources such as sunlight, wind, tides and geothermal heat. It only includes the generation of energy from sources that are inexhaustible and can be replenished indefinitely, unlike fossil fuels such as coal. This industry does not include transmission and distribution of renewable energy.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation´s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/5/prweb9498345.htm