The Future of Renewable Technology in Australia

Can you think of any 3 industries that have the power to change the course of an entire nation? Education, policy matters, and financial strategies are valid answers. That being said, what about the usage of technology and energy?

And when you think about renewable energy, what better example than Australia to talk about? Why Australia, you ask? Because in 2021, the country’s renewable tech industry accounted for 32.5% of its total power generation. This was a very significant milestone that has been set as a gold standard.

Read on for some key factors that drive this success and to learn more about the future of renewable technology in Australia.

The Rise of Australia’s Renewable Energy

Where did it all begin? Australia’s renewable energy shift began to evolve about five years earlier. This was when the Australian Government prioritized

• Affordability
• Reliability
• Carbon emission reduction

2021 was a good year for Australia. Know why? Because more than a quarter of the country’s energy came from renewable sources despite Australia’s electricity prices soaring in 2022 to almost 18.3%.

But with the federal government’s initiatives, the country aims to reduce its carbon emissions by 43%. This is expected to be achieved by as close as 2030.

Which Renewable Sources Matter Most?

The government of Australia encourages the use of renewable energy through a number of programs and policies. This covers incentives and subsidies in addition to an Renewable Energy Target (RET). The government has been able to welcome innovators and investors thanks to these initiatives.

Some of the leading sources of energy include:

1.Solar Power

Australia is never short of sunlight throughout the year. This makes the country ideal or solar farms and rooftop solar installations. The cost of solar panels and affordable technology options have made solar power more accessible for commercial and residential consumers.

Not just the government, but also citizens are taking up initiatives to promote solar energy. Communities are adopting solar panels, public perception is shifting to renewable sources, and businesses are integrating sustainable practices.

An image of several solar panels on a grassy land.

 2. Wind Energy

Vast coastal regions and plains in Australia are advantageous for the country. As mentioned, the government has acknowledged and leveraged this advantage by constructing large-scale wind farms.

  3. Hydropower

Hydropower is a small contributor as compared to solar and wind power. But it is a consistent source of renewable energy to ensure optimized energy consumption.

  4. Geothermal

Innovations to harness tidal and geothermal energy help create a better efficiency, improved energy storage, and reduced costs.

Where is Australia Headed?

All this sounds promising, but where is it taking Australia and its people? Well, the future seems bright with hybrid energy systems dominating the scene. This includes systems that combine different renewable sources to provide a stabilized power supply.

Hybrid technologies can give citizens a blend of solar, wind, and storage technologies to prevent intermittency. Speaking of storage, next-gen batteries and pumped hydro storage are also offering sustainable solutions.

An image of windmills on a scenic landscape.

Research and development in this avenue can improve both the efficiency and reliability of renewable energy. This is done by storing excess energy better during peak generation periods. But what takes the cake is surely decentralized energy solutions that help manage energy locally.

Communities throughout Australia can generate and manage their energy flexibly, improving the resilience of its citizens. Community solar projects, microgrids, and controlled energy production systems help achieve these goals.

Conclusion

The significant strides made by Australia to manage its power in recent years have positioned the country as a global leader in sustainable energy practices. As Australia continues to harness its abundant natural resources, it can capitalize on technological advancements.

This makes the future of renewable energy in Australia look very promising. As the country powers ahead, the world can watch and learn from a nation that is shaping the future of renewable technology.