KPMG: Australia needs to move forward with renewable energy

30th May 2012

Australia needs to pull up its socks when it comes to renewable energy innovation – especially with an expected increase in investment in solar and other green technologies on the horizon.

This is according to the new KPMG Green Power 2012 survey, which showed that the majority of respondents expect “robust” renewable energy investment over the next five years.

70 per cent private equity and infrastructure investment funds surveyed in the report said they were particularly interested in solar photovoltaic, hydro and windpower developments.

This, the study revealed, is because these investment areas are generally viewed as “safe-havens” when it comes to long-term spending.

But while sun-drenched Australia seems like a natural fit for an increased interest in renewable investment – especially solar panels – the latest survey could be a wake-up call for industry to keep pace with new developments.

“The message is clear,” said Mathew Herring, KPMG Australia’s national leader of renewable. “The industry needs to develop quickly so we can become a leader throughout Asia and globally.”

According to Herring, the key to Australia’s renewable energy success will lie in the state and federal regulatory framework surrounding solar power and other renewable technologies.

He explained: “Although Australia’s renewable  energy policies have become more supportive of the industry in recent years, like the bi-partisan support of the Renewable Energy Target (RET) scheme, there is still uncertainty about state-based policies, which does little to fuel investor confidence.”

Work needs to be carried out to ensure that Australia – which is currently highly-regarded thanks to its relatively strong economy – remains an attractive investment destination for those who are interested in renewables.

Herring asserted that a mix of infrastructure improvements, better collaboration with the resources sector and smarter, more progressive policies will be crucial to ensuring the long-term success of the Australian renewable energy market.

It’s likely that a significant number of new renewable energy investors will hail from Asia -with Chinese investors in particular eyeing the Aussie renewnables market – and five of the top ten countries most closely associated with renewable energy investment hailing from this region.

The United States, India and China are tipped to be among the most popular places for renewable energy investment to be targeted in the months and years ahead – but as these countries also have strong ties to Australia, there’s no reason why our solar sector can’t benefit as well, said Herring.

That’s a statement I can certainly get behind!

Posted by Mike Peacock

All solar power news categories

Government Rebate & Regulations
Solar Power & Technology


More Solar Power & Technology

Australia to be a part of huge Asian renewable energy growth
SunPower steps up to make solar more affordable
Canberra makes strides toward carbon neutrality
GTM puts solar's massive growth in perspective
Examining Australia's falling solar PV rooftop prices
Australia's shift toward renewable energy picks up the pace
Australia shines at solar decathlon
University of Queensland tapped as lead researcher on massive solar project
100 per cent renewable energy is possible in 10 years, environmental group says
Climate Commission releases report on solar progress
Aussie government actually shows spine for solar power
Be gone, skeptics: One million solar installations and counting
Australia embarks on its greatest solar journey ever
Australia looks to solar thermal for commercial success
Solar power helps King Island reach 100% sustainability
Australians 'heavy supporters of solar power'
Mildura solar plant officially unveiled
Solar power trumps other renewables in Australian minds
Sunshine Coast solar farm "fantastic initiative"
Sunshine Coast cashes in on namesake with solar plans
Energy storage 'could maximise solar power utility'
Solar powered family car - a world first?
Code of conduct for solar installers in the works
'Stop punishing households' for solar PV
Australian solar companies 'adjusting well'
Australian mining 'next solar frontier'
"Rooftop revolution" underway across Australia
Global PV market emerging from sluggish period
Royalla solar farm receives final approval
Leadership challenge a "debacle" for Australian solar power
Solar power giving global renewables a helping hand
Australia's largest CPV solar power plant up and running
Renewable energy misinformation "staggering"
CEC: Don't underestimate consumer desire for solar
Setting energy efficient examples on TV
Solar PV brightening up household bills
World's largest solar powered boat on the move
Climate change is heating up
The global solar power shift
New solar tech win for NSW
Industry orgs praise City of Sydney solar efforts
Clean Energy Council supports Regional Renewables scheme
Asian nations emerging as PV leaders
Solar PV demand continues to grow
Regional areas of Australia to receive more renewables
Australia's significant renewable energy growth
Solar panel reprieve for Queensland
New funding for solar research
Find love with sustainable speed dating
New Victorian solar power deal
 To get your quotes, please enter your postcode: