Australia’s RE Sector Can Create 60,000 Manufacturing Jobs: Study

Australia's RE Sector Can Create 60,000 Manufacturing Jobs: Study

Institute For Sustainable Future (ISF) recent study report found an association between Australia’s net zero targets and job creation, the report’s findings stated, that renewable energy can create up to 60,000 jobs in the manufacturing sector.

The report by the Australian Manufacturing Workers’ Union (AMWU) and Climate Action Network Australia places among the global leader in renewable energy research and development (R&D). The study showed, five key opportunities in Australia that align with existing core industry capabilities, fill in a supply chain gap, shore up domestic demand, or unlock significant export potential.

It mentioned them to be:

1. Development of domestic production capability for the manufacturing of battery cells and pack assembly for both domestic and export markets and incorporating recycled materials in a circular supply chain.

2. Creation of Domestic production of high voltage cables for renewable energy transmission domestically and to connect Australia to regional neighbors and unlock our potential as a net exporter of clean energy.

3. Develop wind tower manufacturing capacity and the local steel supply chain for the $20 billion-plus domestic on- and offshore market.

4. Building solar manufacturing based on Australian innovation to achieve Australia’s net zero targets could create up to 60,000 jobs in the manufacturing sector.

5. Support the production of electric heavy vehicles for the domestic market and explore the feasibility of developing them for export.

Whereas in Onshore wind the report found, that the industry experienced the largest cost increase of all renewable energy technologies due to global supply chain issues arising from Covid – estimated by the CSIRO to be an increase of up to 35%. The CSIRO notes that higher costs will continue until 2027 but could be longer if higher demand arises internationally continuing the extension of a tighter supply-demand balance. 

For wind energy, the study showed, the “wind manufacturing industry can develop wind tower manufacturing capacity and provide the local steel supply chain for the $20 billion-plus Australian market. Port infrastructure for offshore wind could unlock increased local manufacturing. Whereas, drawing a cost analysis the study found, ” Onshore wind experienced the largest cost increase of all renewable energy technologies due to global supply chain issues arising from Covid – estimated by the CSIRO to be an increase of up to 35%. The CSIRO notes that higher costs will continue until 2027 but could be longer if higher demand arises internationally that continues the extension of tighter supply-demand balance.”

To read more – https://www.uts.edu.au/sites/default/files/2024-04/Renewable%20Energy%20Superpower%20Report%202024%2060pp%20WEB%20SPREAD%201.pdf