Green Technology

Companies in the industry generate electricity using renewable sources of energy such as wind, solar, geothermal, tidal, biomass and other energy sources.

The Wind and Other Electricity Generation industry uses a range of renewable inputs to generate electricity. The industry has flourished over the past five years, as capacity growth has been supported by multiple government incentives designed to promote renewable energy generation and investment. Industry revenue is estimated to rise at a compound annual rate of 8.8% over the five years through 2015-16 to reach $628.0 million. As with other electricity generation industries, the introduction and subsequent repeal of the carbon tax has contributed to revenue volatility over the past five years. Continued investment in capacity expansion projects and new generation facilities is expected to contribute to a 9.6% revenue spike in 2015-16.

The Wind and Other Electricity Generation industry is in the growing stage of its economic life cycle. This has resulted in concerted international research and development activities. International technology transfer agreements and process improvements have also reduced the cost of developing and establishing industry technology, which has further fuelled the industry’s growth.

Industry value added (IVA) is used to measure an industry’s contribution to the overall economy. IVA is forecast to grow at a compound annual rate of 8.0% over the 10 years through 2020-21. The industry is therefore expected to outperform annualised real GDP growth of 2.8% over the same period. This trend is characteristic of a growing industry

Source of Report – IBIS world (http://www.ibisworld.com.au)