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Australia underscores the potential to attracts $3.5-$5 billion investment in Bioenergy sector, told Bioenergy Australia. On Tuesday, Bioenergy Australia released assessment undertaken on Australiaâs Bioenergy sector in collaboration with KPMG. Its Bioenergy State of the Nation Report identified the significant investment opportunities in Australiaâs bioenergy sector and the policies to adopt in building bioenergy economy of the nation.
The report outlined that Australia has significant bioenergy opportunity offering as much as $5 billion investment mostly in regional economies. But this billion-dollar industry continues to go ignored as Australia lags in developing national strategy for its Bioenergy Sector. Â
âThe sector has been stifled due to lack of policy, commitment and visionâ mentioned the Hon Mark Butler MP, Shadow Minister for Climate and Energy.
Bioenergy Australia CEO Shahana McKenzie said that Queensland is the national leader in Australiaâs bioenergy sector. He added âit is because Queensland has recognized bioenergy as significant opportunity for its state and has aligned its objective to capitalize on the sector compared to other states and territories.
The former Liberal party leader and bioenergy advocate explained that unnoticed consequences of the âclimate warsâ has been one of the reasons for Australian Government failing to develop a nation-wide waste and bioenergy strategy.
On the global front, the report revealed that Australia sits in the bottom quartile for bioenergy contribution globally. In the review of 24 countries of Organisation for Economic Co-operation and Development (OECD), Australia was placed at number 19.
Mr. McKenzie stated that the global disparity arises major concerns especially when Australia targets to reduce emission by the marine and aviation industry. Further, in the global fuel mix, Australia lags with approximately 4% of total energy consumption for biomass energy compared to European Unionâs 10% consumption.
New South Wales, Queensland and Victoria make the major contribution to Australiaâs bioenergy economy. The bioenergy projects commissioned in these states utilizes combustion and anaerobic digestion as the principal technology but lags in feedstock and technology diversification.
Queensland as a major player in bioenergy projects across Australia has adopted several effective practices and policies that can be deployed to drive bioenergy uptake across Australia, said Mr. McKenzie.
In the concluding statement, Ms McKenzie stated that there exist number of viable options that can be implemented to drive significant change in the Bioenergy sector of Australia. But he added that the government plays the most important role to boost the sector by the withdrawal of barriers restricting the growth of projects and industry overall.
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