Connect with us

Hi, what are you looking for?

Once a leader in renewable energy investment, Australia now lags behind developing countries such as Algeria, Myanmar, and Thailand.

Cap And Trade

Australia Has Slipped Below Algeria, Myanmar In Renewable Energy Investment

Once a leader in renewable energy investment, Australia now lags behind developing countries such as Algeria, Myanmar, and Thailand.

Bloomberg New Energy Finance announced trends in renewable energy investments around the world. China emerged as the leading investor in renewable energy project, which is hardly a news anymore. The big news is actually the massive fall in renewable energy investments in Australia.

australia wind farm


Such was the slump in clean energy investment in Australia that the country slipped from the world’s 11th largest investor in renewable energy projects to 31st in 2014. During the first three quarters of 2014, Australia invested just $238 million in setting up large-scale renewable energy projects.

Several countries, including Algeria, Myanmar, Thailand and Uruguay, have made more investments in renewable energy projects than Australia has this year. The overall investment has also increased after two years of declining trend. During the first three quarters this year, about $175 billion have been invested in renewable energy projects, 16% more than the investment made during the corresponding period last year.

China invested a record $12.2 billion in the third quarter itself, up 52% compared to the investment in the second quarter this year. Other countries with noticeable increase in investments are Japan, Canada, France and India.

The significant slump in Australia’s investment is due to the lack of a market-linked carbon emissions reduction policy. The carbon tax regime implemented by the Labour Party government was cut short by a year with a plan to replace it with an emissions trading scheme that would eventually be linked with the European Union’s emissions trading scheme. The emissions trading scheme was never launched, as the Labour government was ousted by the Liberal Party.

The Liberal Party has a largely non-functional emissions reduction policy that lacks transparency. To add to that, it is considering either weakening the Renewable Energy Target, or doing away with it entirely. The country’s poor standing in renewable energy investment is, thus, not at all surprising.

But the Liberal government is running out of justifications and reasons to avoid implementing a sound emissions reduction policy. Australia has among the highest per capita emissions in the world. It is has adopted a target to reduce emissions by only 5% by 2020 from 2000 levels. China, South Korea, and several other developing countries are set to implement emissions trading schemes on a national scale. These policies and schemes will lead to significant increase in renewable energy infrastructure. Australia will feel increasing pressure to act on low-carbon initiatives.

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Electrifying Industrial Heat for Steel, Cement, & More

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Written By

Mridul currently works as Head-News & Data at Climate Connect Limited, a market research and analytics firm in the renewable energy and carbon markets domain. He earned his Master’s in Technology degree from The Energy & Resources Institute in Renewable Energy Engineering and Management. He also has a bachelor’s degree in Environmental Engineering. Mridul has a keen interest in renewable energy sector in India and emerging carbon markets like China and Australia.


You May Also Like


If a firm is adding hyped complexity, they are aiming at credulous wallets, not deliverable solutions.


The Wuling Hongguang Mini EV made mini EVs very fashionable in China, especially in the second and third tier cities and so on. The...


BYD has partnered with New Delhi based EV cab service Evera. BYD will deliver 100 e6 station wagon EVs. Evera provides app-based cab services...

Clean Power

I had the opportunity to sit down for 90 minutes with Dilip Chandrasekaran, engineer, materials science PhD and SVP of industrial heat leader Kanthal.

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.