Times are changing in the global renewable energy industry due to current and proposed Government policies, community perception and power pricing. These forces are providing opportunities for new power generation technologies and creating increased investment interest in renewable projects such as wind farms.
For the first time last year renewable energy overtook fossil fuels in attracting investment, according to figures from the United Nations, Environment Program. There have been many milestones reached in recent years, but the UN report suggests renewable energy has now reached a tipping point where it is as important in the global energy mix as fossil fuel generation.
In Australia the Rudd Government recently committed to doubling the market share of renewable energy in Australia’s electricity supply from its current 10% to 20% by 2020. Achieving this will require an unprecedented increase in Australia’s use of non-hydro renewable energy technologies such as wind, biomass, geothermal and solar. To achieve the 20% target, more than half of all new electricity generation capacity installed in Australia will need to be renewable.
What is renewable energy? Renewable energy is energy generated from natural resources such as sunlight, wind, rain, tides, and geothermal heat. All of which are naturally replenished. See the ORER website for more information - www.orer.gov.au