The global renewable energy boom: how Australia is missing out
Australia is lagging behind the world's major economies when it comes to renewable energy generation despite having enough renewable energy resources to power the country 500 times over. Globally, renewable energy is now cost-comparative or cheaper than fossil fuels for generating electricity, and the cost of wind and solar in particular is projected to continue to fall steeply. Investment and jobs in renewable energy have surged internationally. Clean energy investment grew in China (32%), the US (8%), Japan (12%), Germany (3%) and the UK (3%) in 2014. Whilst in Australia, investment fell 35% ( with investment in large-scale renewable energy falling 88%), due to policy uncertainty.