Australian Energy Resource Assessment
Australia has an abundant and diverse range of energy resources. It has very large coal resources that underpin exports and low-cost domestic electricity production, more than one third of the world's known uranium resources, and substantial conventional gas and coal seam gas resources. These can support Australia's domestic needs and exports for many years to come. Identified resources of crude oil, condensate and liquefied petroleum gas are more limited and Australia is increasingly reliant on imports for transport fuels.
Australia has a rich diversity of renewable energy resources (wind, solar, geothermal, hydro, wave, tidal, bioenergy) with low greenhouse gas emissions. With the exception of hydro and wind energy many of these resources are largely undeveloped, constrained by the current market conditions and immaturity of technologies.
The expected advances in technology by 2035 will allow renewables to make a growing contribution to Australia's future energy supply. By this time Australia's energy consumption pattern is expected to change significantly. While fossil fuels (coal, oil and increasingly gas) will continue to dominate the energy mix, renewable energy sources, notably wind, are expected to become increasingly more significant.
The report examines the nation's identified and potential energy resources ranging from fossil fuels and uranium to renewables. The assessment reviews the factors likely to influence the use of Australia's energy resources to 2035. It is a national prospectus for energy investment and exports and provides fundamental information to support policy development such as the Government's Energy White Paper.
The Australian Energy Resource Assessment was undertaken jointly by Geoscience Australia and the Bureau of Resources and Energy Economics.