Australia Renewable Energy Market Analysis - Industry Growth, Size & Forecast Report (2025 - 2030)

Australia Renewable Energy Market is Segmented by Technology (Solar, Wind, Hydropower, and Other Technologies). The report offers the market size and forecasts in installed capacity (gigawatts) for all the above segments.

Australia Renewable Energy Market Analysis - Industry Growth, Size & Forecast Report (2025 - 2030)

Australia Renewable Energy Market Size

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Australia Renewable Energy Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Volume (2025) 57.38 gigawatt
Market Volume (2030) 99.37 gigawatt
CAGR 11.61 %
Market Concentration Low

Major Players

Australia Renewable Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Australia Renewable Energy Market Analysis

The Australia Renewable Energy Market size in terms of installed base is expected to grow from 57.38 gigawatt in 2025 to 99.37 gigawatt by 2030, at a CAGR of 11.61% during the forecast period (2025-2030).

  • Over the medium term, the prominent factors driving the growth are the issues related to elevated grid electricity prices and increasing investments in renewable energy generation in the country. 
  • On the other hand, the market's growth is expected to be hampered by factors like integrating renewables into the main electricity grid, which involves more challenges than installing them in the distributed form. 
  • Nevertheless, coal-fired power stations, which form a major part of the country's electricity generation, are aging and will retire after a certain period. They will not serve the country in the long run, which creates ample opportunity for the renewable energy market players to carve out a significant place in the power generation mix.

Australia Renewable Energy Industry Overview

The Australian renewable energy market is fragmented. Some of the major companies in the market (in no particular order) include Iberdrola SA, Xinjiang Goldwind Science & Technology Co., Ltd.,, Vestas Wind Systems AS, Tilt Renewables Ltd, and Acciona SA., among others.

In February 2023, Tilt Renewables, a Melbourne-based project developer announced buying of a 50% stake in the up to 1.2-GW Forest Wind project in Queensland, Australia. 

Australia Renewable Energy Market Leaders

  1. Tilt Renewables Ltd.

  2. Acciona SA

  3. Iberdrola SA

  4. Vestas Wind Systems A/S

  5. Xinjiang Goldwind Science & Technology Co., Ltd.,

  6. *Disclaimer: Major Players sorted in no particular order
Australia Renewable Energy Market Concentration
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Australia Renewable Energy Market News

  • In June 2023, Octopus Investments Australia, a renewables manager, acquired a 175 MW solar project in Queensland with a battery storage component. This will add to the existing wind farm, paving the way for the state's largest multi-technology renewable energy hub.
  • In December 2022, Microsoft and FRV Australia teamed up to add renewable energy to the grid, which has a peak power capacity of roughly 300 megawatts, and it will supply clean energy to the electricity grid, allowing Microsoft to get closer to its global goal of converting to 100% renewable energy suppliers by 2025.
  • In November 2022, the Australian government announced more offshore wind zone areas will be considered in Western Australia, which will help the country reach 82 percent renewable energy by 2030. In September 2022, Copenhagen Energy revealed its plans for 3GW wind projects in Western Australia.

Australia Renewable Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Renewable Energy Mix, 2022
  • 4.3 Renewable Power Installed Capacity and Forecast, in GW, till 2028
  • 4.4 Recent Trends and Developments
  • 4.5 Government Policies and Regulations
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.1.1 Increasing Investments in Renewable Energy Generation
    • 4.6.1.2 Supportive Government Policies Towards Green Energy
    • 4.6.2 Restraints
    • 4.6.2.1 Challenges In Installing Renewable Power in the Circulated Structure
  • 4.7 Supply Chain Analysis
  • 4.8 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Technology
    • 5.1.1 Solar
    • 5.1.2 Wind
    • 5.1.3 Hydropower
    • 5.1.4 Other Technologies

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Iberdrola SA
    • 6.3.2 Xinjiang Goldwind Science & Technology Co., Ltd.,
    • 6.3.3 Vestas Wind Systems AS
    • 6.3.4 Tilt Renewables Ltd
    • 6.3.5 Acciona SA
    • 6.3.6 First Solar Inc.
    • 6.3.7 Ratch Group PLC
    • 6.3.8 Edify Energy Pty Ltd
    • 6.3.9 Neoen SA
    • 6.3.10 APA Group
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Phasing Out Of Coal-fired Power Plants To Create Opportunities For Renewable Sector
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Australia Renewable Energy Industry Segmentation

Renewable energy is the energy collected from renewable resources such as sunlight, wind, the movement of water, and geothermal heat that are naturally replenished. 

Australia renewable energy market is segmented by technology. By technology, the market is segmented into solar, wind, hydro, and other technologies. For each segment, the installed capacity and forecasts have been done based on gigawatts (GW).

Technology Solar
Wind
Hydropower
Other Technologies
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Australia Renewable Energy Market Research Faqs

How big is the Australia Renewable Energy Market?

The Australia Renewable Energy Market size is expected to reach 57.38 gigawatt in 2025 and grow at a CAGR of 11.61% to reach 99.37 gigawatt by 2030.

What is the current Australia Renewable Energy Market size?

In 2025, the Australia Renewable Energy Market size is expected to reach 57.38 gigawatt.

Who are the key players in Australia Renewable Energy Market?

Tilt Renewables Ltd., Acciona SA, Iberdrola SA, Vestas Wind Systems A/S and Xinjiang Goldwind Science & Technology Co., Ltd., are the major companies operating in the Australia Renewable Energy Market.

What years does this Australia Renewable Energy Market cover, and what was the market size in 2024?

In 2024, the Australia Renewable Energy Market size was estimated at 50.72 gigawatt. The report covers the Australia Renewable Energy Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Australia Renewable Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Australia Renewable Energy Industry Report

The renewable energy market in Australia is poised for significant growth, driven by a combination of technological advancements, supportive government policies, and increasing public awareness of environmental sustainability. The market is segmented by type, including hydro power, wind power, solar power, bioenergy, and others, with solar technology expected to dominate due to its widespread adoption and cost-effectiveness. End users are categorized into industrial, residential, and commercial sectors, each contributing to the market's expansion.

The market's growth is further bolstered by declining costs of renewable technologies, financial incentives, and regulatory frameworks that encourage the adoption of clean energy solutions. As traditional fossil fuel reserves diminish and environmental concerns escalate, the shift towards renewable energy is not only a strategic move for energy security but also a crucial step towards a sustainable and resilient future. The largest renewable energy companies in Australia are playing a pivotal role in this transition, driving innovation and investment across the renewable energy market in Australia.

Industry outlook and industry statistics indicate a robust future for the renewable energy sector in Australia. Market share and growth rate projections underscore the potential for substantial market expansion. Comprehensive industry analysis and industry growth reports provide valuable insights into the market dynamics. The availability of a report PDF for detailed sector analysis and market research further enhances the understanding of the market landscape.

The Australia renewable energy market analysis includes a market forecast outlook and historical overview, offering a well-rounded perspective on market trends and developments. Market research and market analysis are crucial for identifying opportunities and challenges within the industry.

In summary, the renewable energy market in Australia is characterized by strong industry growth, supported by favorable market conditions and strategic initiatives. The industry's size and worth are expected to increase significantly, driven by market leaders and innovative solutions. The market forecast and market growth outlook remain positive, with continuous advancements and investments shaping the future of renewable energy in Australia.