Australia Renewable Energy Market to Hit 168.14 GW by 2031 at 14.46% CAGR Amid Solar & Wind Expansion | Says Mordor Intelligence Study

Strong Capacity Expansion Across the Australia Renewable Energy Industry 

The Australia Renewable Energy Market Size was valued at 74.83 GW in 2025 and is projected to expand significantly, reaching 168.14 GW by 2031. This reflects sustained Australia Renewable Energy Market Growth, supported by national clean energy targets, investment in large-scale projects, and growing electricity demand from industries. 

The Australia Renewable Energy Industry continues to shift toward solar and wind, with utilities, residential users, and commercial buyers increasing adoption. Falling costs of solar PV and battery storage, along with long-term power purchase agreements, are improving project viability. These factors are strengthening the Australia Renewable Energy Market Forecast over the next five years. 

Explore more insights on Australia Renewable Energy competitive landscape: https://www.mordorintelligence.com/industry-reports/australia-renewable-energy-market/companies?utm_source=Industrytoday 

Australia Renewable Energy Companies

• AGL Energy Ltd 
• Origin Energy Ltd 
• Neoen SA 
• Iberdrola Australia (Infigen Energy) 
• Acciona Energia 
• Tilt Renewables Ltd 
• APA Group 
• ENGIE Australia & NZ 
• Goldwind Australia 
• Vestas Australia 
• First Solar Inc 
• Edify Energy Pty Ltd 
• Ratch Australia 
• Genex Power Ltd 
• Snowy Hydro Ltd 
• Fortescue Energy 
• Sun Cable Pty Ltd 
• ACEN Australia 
• CIP (Star of the South) 
• Squadron Energy 

Dive deeper into regional dynamics and download the Japanese version for locally relevant analysis - https://www.mordorintelligence.com/ja/industry-reports/australia-renewable-energy-market?utm_source=Industrytoday  

Australia Renewable Energy Market Segments 

• By Technology: Solar energy dominates the Australia Renewable Energy Market Share, followed by wind, hydropower, bioenergy, geothermal, and ocean energy 
• By End-User: Utilities lead demand, while residential and commercial & industrial segments show rising adoption 

Australia Renewable Energy Market Drivers & Insights

Rising Investment in Utility-Scale Solar Projects

Significant investment is driving growth in utility-scale solar projects, with AUD 12 billion allocated across 47 initiatives in 2024 alone. These large-scale developments are enhancing grid capacity and accelerating the transition to cleaner energy sources.

Policy Support Strengthens Renewable Energy Pipelines

Federal and state renewable energy targets are creating a stable, long-term pipeline for new projects, giving investors and developers confidence to expand capacity and innovate in technologies like storage and smart grid integration.

Strong Growth in Wind Energy

Wind energy is also experiencing strong growth, particularly in onshore installations, while early offshore projects are beginning to take shape. These developments are expanding renewable generation capacity, supporting energy security, and contributing to national decarbonization goals.

Dominating Country Insight: Australia 

Australia dominates the Australia Renewable Energy Market due to strong policy support, abundant solar and wind resources, and continuous investment in large-scale projects. States like New South Wales and Victoria lead in installed capacity, while Queensland is the fastest-growing region with ambitious renewable targets. South Australia stands out for high renewable penetration supported by battery storage, and Tasmania contributes through hydropower exports. Western Australia and the Northern Territory are advancing renewable hydrogen projects, adding to future capacity. This regional balance and infrastructure development continue to drive steady Australia Renewable Energy Market Growth and strengthen the overall Australia Renewable Energy Industry outlook. 

Conclusion 

The Australia Renewable Energy Market  is set for steady expansion through 2031, supported by strong policy targets, rising investments in solar and wind, and increasing adoption of battery storage solutions. While grid limitations and supply chain delays remain challenges, continued project development, corporate renewable demand, and regional growth across key states are sustaining momentum. Overall, the Australia Renewable Energy Market Growth outlook remains positive, with the industry moving toward higher renewable penetration and a more stable, diversified energy mix. 

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