A state government report has shown that within 10 years the renewable energy sector could be worth over $750 million a year. The report, commission by the state government, shows that the industry is currently worth $100 million a year and employs over 700 people.
The Queensland government is now looking at ways to help industry expand within the industry of renewable energy. The release of this development plan will facilitate this. And with report findings showing only 6% of residential properties and almost no commercial properties were utilising solar power, there is significant market ready for solar products.
To achieve the targets of the report, more wind farms and solar panels would need to be installed. There would also have to be increases in industry professionals and specialised manufacturing. 2015 projections suggest the industry will generate more than $200 million by 2015 and employ more than 950 people.