Frost & Sullivan finds winds of opportunity for Renewable Energy Markets in Australia and New Zealand

Frost & Sullivan finds winds of opportunity for Renewable Energy Markets in Australia and New Zealand PR Newswire SYDNEY, June 22, 2012 - Renewable energy targets to unlock investments of more than USD20 billion by 2020 in Australia SYDNEY, June 22, 2012 /PRNewswire/ -- The governments of Australia and New Zealand (ANZ) are stepping up efforts to cut back carbon emissions and increase the share of renewable energy in the countries' energy mix. Australia has mandated that 20 per cent of its electricity be generated from renewable sources by 2020 and to this end, has introduced renewable energy targets (RET). This policy is the biggest incentive for investments in wind power in the country. However, uncertainty in RET in Australia and the absence of new policy approaches in New Zealand have hindered the market from making optimal use of these policies. New analysis from Frost & Sullivan (http://www.energy.frost.com), Australia and New Zealand (ANZ) Renewable Energy Markets, finds that the market earned revenues of $1.90 billion in 2011 and estimates this to reach $5.04 billion in 2016. Frost & Sullivan Research Analyst Subha Krishnan said that ambiguity in RET has caused a reduction in the price of the renewable energy certificates (REC) and made available surplus RECs in the renewable energy market.