BDO releases Renewables predictions for 2023
28 January 2020
BDO’s Global Natural Resources team has released its predictions on how the global renewables industry will experience substantial growth by 2023, despite Australia seeing stifled growth in this area.
The new future of renewables report explores the top five predictions for the next three years, which include:
- Solar energy will generate a terawatt of solar energy globally by 2023
- Storage of renewable energy will emerge as a key grid asset by 2023, helping to increase the reliability of renewable power sources
- Investment in wind power will grow with increased storage capabilities helping to improve the economics and productivity of project overseas
- By 2023 many of the mining and oil and gas majors will be investing in cleaner energy options to diversify their portfolios, reduce their carbon footprints and respond to shareholder and investor demands
- Investors will return to the cleantech market following a cycle of disappointing reserves.
The report also includes country-specific predictions for Australia, New Zealand, the USA, Canada, Portugal, the UK, France, South Africa and Malaysia.
For more information in relation to the report, please speak to your BDO adviser.