As of 2023, total renewable energy in Australia stood at 10.1 Million Tonnes of Oil Equivalent (MTOE). Between 2013 and 2023, the growth in total renewable energy usage showed a fluctuating pattern with an overall upward trend. Year-on-year variation reached a high of 11.12% in 2013 and tapered down to a modest 1.84% in 2023. The average Compound Annual Growth Rate (CAGR) over the past five years was 2.19%. Forecasts suggest a continued positive trend with a 5-year CAGR of 1.29%, culminating in a 6.62% growth rate by 2028.

Future Trends to Watch For:

Increasing governmental and private investments in renewable energy technologies.
Development and deployment of more efficient renewable energy systems.
Impact of potential policy changes and international agreements on renewable energy expansion.