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Clean Energy Outlook – Confidence Index

Report

Report

Posted on 29 July, 2019

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This index provides an insight into the status of the industry from leading CEOs and Senior Executives.

We surveyed over 75 senior leaders from across the clean energy industry in order to gauge the investment confidence in the clean energy industry, as well as, employment trends and the specific business challenges felt across the industry.

The results and related comments indicate that since we last surveyed the industry in December 2018 investment confidence has fallen, largely due to the results of the recent Federal Election and the associated lack of coherent federal energy policy.

Investment confidence

What is your level of confidence to make investments in renewable energy in Australia in the next 3 years?

Ceo confidence index 2019 over time web

Investment confidence has gone down since the last survey at the end of 2018 and the consistent reason cited was the recent Federal Election result and lack of federal energy policy certainty.

Confidence by state

What is your level of confidence to make investments in clean energy in each state over the next three years?

Ceo confidence index 2019 by state web

We compared the level of investment confidence in each state from December 2018 to July 2019 and generally the outlook was less confident than it had been at the end of 2018. In particular, the level of investment confidence in Queensland dropped by 12 percentage points. Victoria and also dropped by 5.6 percentage points indicating that there is less investment confidence in states which have been previously rated much higher. However, Tasmania recorded an increase of 2.5 percentage points and Western Australia a 1-point increase.

Employment

How do you expect the number of people your company employs in renewable energy in Australia to change in the next 12 months?

Ceo confidence index 2019 employmnet trends web

The expected employment increase within the clean energy sector dropped to the lowest it has been since the confidence index was started. In December 2018, 83 per cent of those surveyed expected employment to increase in their business. Now, in July 2019, only 62 per cent of those surveyed expected employment in their business to increase. Again, this result reflected the recent Federal Election result and the instability the industry is feeling due to a lack of federal clean energy policy.

Top five business challenges

What factors are creating the greatest challenges for your business to develop renewable energy projects in Australia?

Ceo confidence index 2019 business challenges web

The top business challenges rated were grid connection and network access followed by a lack of strong federal energy and climate policy. These were both the top concerns rated in the previous December 2018 confidence index. Substantive regulation changes and concerns, and uncertainty about Marginal Loss Factors were new additions to this question in 2019 and reflect how important they are across the clean energy industry.

Download the Clean Energy Outlook - Confidence Index