Australia certainly has the potential to become one of the top renewable energy producers. Big country with lot of abundant renewable energy sources at its disposal can certainly make its name on global renewable energy market.
Some promising signs are already there. According to the latest CEDEX report Australia’s renewable energy sector reached a record in October, with 21.7% of electricity in the national electricity market being generated from renewable energy sources.
From this year's perspective, in the full year to October, renewable energy accounted for 14.7% of supply to the national electricity market, which is a respectable number by all means. The increase in renewable energy use has also led to decrease in country's greenhouse gas emissions, which dropped 0.8% less than a year earlier.
The largest share of renewable energy electricity in Australia comes from hydroelectricity followed by wind energy. Solar energy industry is also growing rapidly and biomass industry is also looking lively.
The Australian government played their part in encouraging renewable energy development in the country. This mostly refers to mandatory renewable energy target of 33,000 gigawatt-hours of renewable generation from power stations though it has to be said that the government also withdrew some promising renewable energy initiatives such as carbon pricing.
Renewable energy comes from a variety of sources (hydro, biomass, wind solar), and the right combination of these sources could propel Australia into one of the global clean energy leaders in years to come. This wouldn't just reduce Australia's carbon footprint but would also improve its energy security and decrease the need for foreign fuel import.